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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Nautilus Marine Services Plc | LSE:NAUT | London | Ordinary Share | GB0031461949 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.75 | 0.50 | 1.00 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMNAUT
RNS Number : 9365N
Nautilus Marine Services PLC
24 January 2019
24 January 2019
NAUTILUS MARINE SERVICES PLC
("Nautilus" or the "Company")
NOTICE OF INTENT TO DIVEST COLOMBIAN OIL AND GAS PROPERTIES
Nautilus Marine Services PLC (AIM: NAUT), announces today that the Company intends to increase its efforts toward the near-term divestiture of the Company's oil and gas assets located in Colombia in response to escalating interest being expressed by multiple parties during late 2018.
As previously stated in the Company's 2018 Interim Report, the Company began evaluating divestment and strategic partnering opportunities for its oil and gas assets, which consist of the Bolivar and Bocachico contract areas within the Middle Magdalena Valley Basin of Colombia during the prior year.
Following these initial evaluations, the Board and management team at Nautilus believe the sale of the Company's assets in the Middle Magdalena Basin presents a significant opportunity to realise cash value from these non-strategic assets while eliminating the associated annual operating costs and future abandonment obligations.
It should be noted that these efforts toward a near-term divestiture may not result in an acceptable transaction being identified or completed at this time. In this event, the Company would continue to operate its oil and gas assets in accordance with its previously-communicated plans, with a focus on maintaining contractual and environmental compliance at both fields.
Enquiries:
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Nautilus Marine Services PLC
nautilusirinfo@nmsplc.com
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www.nautilusmarineplc.com
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finnCap Ltd
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Christopher Raggett/ Kate Bannatyne 020 7220 0500
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Yellow Jersey
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+44 (0) 7710 718
Tim Thompson/ Henry Wilkinson 649
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The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
DISGMGZMRFZGLZM
(END) Dow Jones Newswires
January 24, 2019 02:00 ET (07:00 GMT)
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