Condor announces MOG approval for the sale of Marsel (Scandinavian Oil-Gas Magazine)

Condor announces MOG approval for the sale of Marsel

Published Jan 1, 2014

Condor Petroleum Inc. is pleased to announce that the Ministry of Oil and Gas of the Republic of Kazakhstan (MOG) has waived their pre-emptive right and approved the transaction previously announced for Condor to sell it's 66% interest in the Marsel Territory for US$88.0 million (Marsel Transaction).

The MOG waiver and consent was the final condition to be fulfilled by Condor. The final condition for the Marsel Transaction to be completed is the buyer's obligation to obtain Kazakhstan Antimonopoly approval, which is expected in January, 2014.

Tags: Condor Petroleum Inc.

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