Faroe is selling 17.5% in Fenja (Pil) on PL586 to Suncor Energy for US$54.5 mm (net of all taxes). This includes tax balances. The transaction is effective 01/01/2018. Faroe will retain 7.5% in the asset. The transaction is expected to reduce Faroe's future capital expenditure on Fenja to approximately £70 mm.
12 Feb 2018
FLASH: Fenja partially sold at a good price
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FLASH: Fenja partially sold at a good price
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
12 Feb 2018 -
Author:
Stephane Foucaud -
Pages:
2
Faroe is selling 17.5% in Fenja (Pil) on PL586 to Suncor Energy for US$54.5 mm (net of all taxes). This includes tax balances. The transaction is effective 01/01/2018. Faroe will retain 7.5% in the asset. The transaction is expected to reduce Faroe's future capital expenditure on Fenja to approximately £70 mm.