Hawkley Completes Sale of Ukraine Assets to Tomeas

Hawkley Oil & Gas Limited announced Friday that it has successfully completed the sale of its Ukraine assets to Tomeas Assets Ltd for a total consideration of $1 million.

The money, including an original $100,000 deposit, has now been received from Tomeas. The sale was first announced February 2 and approved by shareholders March 16. The original agreement was terminated August 11 because Tomeas had not been able to meet its payment obligations. Following termination of the sale agreement, the company entered into discussions with other potential buyers as well as continuing negotiations with Tomeas.

Hawkley stated on its website that it intends to use the funds received to reduce its debt and provide working capital, while it pursues new opportunities to recapitalize the company. With respect to its future, Hawkley stated that directors are in advanced discussions with an Australian entity that has expressed interest in providing financial support and pursuing oil and gas opportunities in more politically stable countries.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Airswift Launching 3 New Centers, Crea... (Jun 28)
 -  Rosneft Working As Usual Following Cyb... (Jun 28)
 -  Statoil Awards Services Contracts to 5... (Jun 28)
 -  Staff Engineering Proficiency Position... (Jun 27)
 -  IOG Welcomes OGA North Sea Tight Gas P... (Jun 27)


Most Popular Articles

From the Career Center
Jobs that may interest you
Director of Finance
Expertise: Accounting|Executive
Location: Long Beach, CA
 
Automation Systems Analyst II
Expertise: Business Development
Location: Houston, TX
 
Sr. Project Manager
Expertise: Project Engineer|Project Management
Location: Odessa, 
 
search for more jobs

Brent Crude Oil : $46.65/BBL 1.78%
Light Crude Oil : $44.24/BBL 1.98%
Natural Gas : $3.04/MMBtu 0.33%
Updated in last 24 hours