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LKOH Pjsc Lukoil

56.2184
0.00 (0.00%)
24 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pjsc Lukoil LSE:LKOH London Ordinary Share RU0009024277 ORD RUB0.025
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 56.2184 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

BowLeven Strikes $250 Million Etinde Farm-out Agreement With Lukoil, NewAge

24/06/2014 8:01am

Dow Jones News


Pjsc Lukoil (LSE:LKOH)
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LONDON--BowLeven PLC (BLVN.LN), an Africa-focused oil and gas company, Tuesday said it agreed to sell part of its interest in the Etinde Permit, offshore Cameroon, to Lukoil Holdings (LKOH) and NewAge.

Bowleven will reduce its interest in the permit from 75% to 25% and get $250 million comprising $170 million in cash payment at completion, a defered cash payment of $40 million, and $40 million carry for two appraisal wells.

Lukoil will acquire a 37.5% interest, while NewAge will increase its holding in the permit from 25% to 37.5%. Bowleven will keep a 25% stake.

Write to Ed Ballard at ed.ballard@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


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