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Nautical Petroleum completes Mariner sale


Published Nov 5, 2010
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Nautical Petroleum starts appraisal of the Kraken discovery

Nautical Petroleum reports the completion of the sale of a 20.6667 per cent. interest in UK Licence P335 Block 9/11a, which contains the Mariner discovery, and associated rights, to Statoil (U.K.) Limited.

The transaction has received approval from the Department of Energy and Climate Change and the joint venture partners. The sale proceeds of £87.5 million have now been received. The effective date of the transaction is 3 November 2010.

Tags: Nautical Petroleum plc



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