Hague and London Oil completes acquisition of Third Energy Offshore

Hague and London Oil has announced that following the satisfaction, or waiver, of all conditions precedent, Hague and London Oil confirms that it has now formally completed its acquisition of Third Energy Offshore Limited (‘TEOL’).

HALO is acquiring the assets through the purchase by its wholly owned subsidiary, Hague and London Oil BV (‘HALO BV), of the entire issued share capital of Third Energy Offshore.

As previously announced, consideration for the acquisition is made up of 19.25% of the post-completion share capital of HALO.

Third Energy Offshore’s portfolio includes interests in the Greater Pegasus Area (45%), and the high impact Andromeda prospect in the Southern North Sea.

Further details of the Acquisition, Operational Plans and the Corporate Calendar will be provided early in the New Year.

Source: Energy-pedia