IOG成功收購北海南部油氣資產

Independent Oil and Gas (IOG), a development and production focused oil and gas company, has completed the acquisition of Versus Petroleum’s subsidiary, Oyster Petroleum. Oyster holds the Southern North Sea licenses containing the Vulcan East, Vulcan Northwest, and Vulcan South fields. To remind, IOG has signed an agreement with Verus Petroleum to buy 100% of the shares of its subsidiary, Oyster Petroleum, on June 13, 2016. The acquisition has an effective date of June 30, 2016, with an initial consideration of ￡1 million payable at completion.

According to the agreement, the company will make three further deferred consideration payments. The first sum of ￡0.75 million is payable nine months after completion. The second ￡1.75 million payment comes within 30 days of approval of a Field Development Plan on the Licenses by the UK Oil and Gas Authority. The final ￡1.5 million payment will be paid within 30 days of the production of first gas from the Licenses. The aggregate consideration, allowing for any interim period adjustments, is ￡5 million ($7.1 million).