Meren Energy Inc (MRNFF)

[manuel06]

Scarbender307
This deal will not be 50% of the fields.I think it will be 50% of POGBV's Share, Petrobras will sell it's 50% share.
this would be a 8% indirect interest in oml 127 and an 16% indirect interest in oml 130.
Share, Petrobras will sell it's 50% share held by POGBV. This would be an 8% indirect interest in oml 127 and an 16% indirect interest in oml 130.
This might mean 4% OML 127 and 8% OML 130 indirectly to AOI....not sure but this is how I read this.


excerp from my previous post below.





This follows Vitol and Delonex decisions to withdraw from the previously announced purchase of 50% of the share capital of POGBV. Consequently, Africa Oil will be the sole acquirer of the 50% interest in POGBV with Vitol and Delonex exiting Petrovida. View PDF Version.

The primary assets of POGBV are an indirect 8% interest in Oil Mining Lease ("OML") 127, which contains the producing Agbami Field, operated by affiliates of Chevron Corporation, and an indirect 16% interest in OML 130, operated by affiliates of TOTAL S.A., which contains the producing Akpo and Egina fields.