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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Vallares | LSE:VLRS | London | Ordinary Share | JE00B55Q3P39 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 995.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
By Alex MacDonald
LONDON--Genel Energy PLC (GENL.LN), the U.K. oil explorer chaired by former BP PLC (BP) chief executive Tony Hayward, said Tuesday it has agreed to buy a 36% stake in the Bina Bawi gas field in the Kurdistan region of Iraq from Austrian partner OMV AG (OMV.VI) for up to $150 million.
The U.K.-listed oil company said it will pay $5 million up front and then $70 million once gas production exceeds certain volumes from the Miran and Bina Bawi fields. A payment of $75 million will be made two years after the date of the second payment.
As part of the deal, Genel has agreed with the Kurdistan regional government to forgo $25 million in payments due to Genel for past expenses incurred on the Miran field.
Genel already owns a 44% stake in the Bina Bawi gas field and a 75% stake in the Miran gas field.
-Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 15, 2015 02:39 ET (06:39 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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