Petro Vista to sell Tartaruga Block interest to Maha Energy (Scandinavian Oil-Gas Magazine)

Petro Vista to sell Tartaruga Block interest to Maha Energy

Published Jan 20, 2016

Petro Vista Energy Corp. has now entered into a binding sale and purchase agreement with Maha Energy Inc. for the sale of its wholly owned Brazilian subsidiary Petro Vista Energy Petroleo do Brasil Ltda.

PVEB holds a 37.5% undivided working interest in the exploration and production contract covering the Tartaruga offshore hydrocarbon development block, located in the Sergipe Alagoas Basin in Brazil.

Under the terms of the Agreement, and subject to the prior approval of the Brazilian National Oil Agency, Maha has agreed to pay an aggregate of CAD$2,542,600 for the Company's working interest.

Tags: Maha Energy Inc., Petro Vista Energy Corp.

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