Oilex has reached a conditional agreement with Armour Energy for the sale of its Cooper-Eromanga assets held under the CoEra name. This follows on a similar HoA with Doriemus, which fell through last month. In exchange for shares + some cash, Armour would acquire the issued capital of CoEra, an Oilex sub. Involved are PEL 112 + 444 and a right to acquire 27 Retention Licences from Senex (Northern Fairway PRLs). Oilex intends to focus on the UKCS and India. Release here.
Oilex has reached a conditional agreement with Armour Energy for the sale of its Cooper-Eromanga assets held under the CoEra name. Involved are PEL 112 + 444 and a right to acquire 27 Retention Licences from Senex (Northern Fairway PRLs). Oilex intends to focus on the UKCS and India. Release here.