Tullow Oil plc has signed a binding heads of terms agreement to sell its non-core Gabon assets to Gabon Oil Company for £300 million in cash net of tax. OPTIMISATION The sale comprises non-operated assets of 10 thousand barrels of oil per day of 2025 production guidance and c.36 million barrels of 2P reserves. Tullow […]
Tag: binding heads of terms
Power Metal enters ‘secondary source’ extraction
Power Metal Resources plc has added secondary source extraction to its portfolio with a conditional £1 million acquisition of 75% of GSA (Environmental) Ltd (GSAe). AMBITIOUS Based in the North Lincolnshire town of Brigg, GSAe is an engineering technology provider and process licensor. The company specialises in extraction of “strategic metals” from sources such as power station […]