Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/leni-gas-acquires-a-producing-oil-field-in-trinida.shtmlLeni Gas acquires a producing oil field in Trinidad
Leni Gas & Oil has signed a binding Heads of Agreement (HOA) to acquire a 100% interest of the producing Trinity-Inniss Field in south-eastern
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Leni Gas & Oil has signed a binding Heads of Agreement (HOA) to acquire a 100% interest of the producing Trinity-Inniss Field in south-eastern Trinidad, close to the Company's existing Goudron Field operations. LGO plans to acquire 100% of Fram Exploration (Trinidad) Limited (Fram), the company holding the Incremental Production Service Contract (IPSC) for the Petroleum Company of Trinidad and Tobago Limited (Petrotrin) owned Trinity-Inniss Field.
The HOA is subject to a number of material conditions, including the negotiation in good faith of a definitive agreement and legal, financial, taxation, stakeholders consent, and commercial due diligence on Fram and its business, assets and liabilities.
