No Definitive Agreement for North Block Divestiture

Caspian previously announced on November 5, 2009 that in order to fund its ongoing obligations, it was pursuing a farm-out or sale of the North Block. In this regard, several parties indicated interest and the Company previously entered into a non-binding letter of intent to complete a farm-out arrangement for a portion of its 50% interest in Aral Petroleum Capital LLP, which letter of intent has since expired.

Negotiations to execute a definitive agreement are continuing, however the outcome of these discussions cannot be determined with certainty.

No definitive agreements have been entered into with any party in connection with a farm-out or sale of the North Block to date, and the Company will issue a further press release in the event that any such definitive agreements are entered into in the future.
 

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours