OGX Petróleo e Gás Participações S.A. (“OGX”) (Bovespa: OGXP3; OTC: OGXPY.PK), announces that it has entered into an agreement with ExxonMobil Exploração Brasil Ltda (“Exxon”), aiming to sell a 35% interest, transferring the operation to the partner, in the block POT-M-475 granted, located in the Potiguar Basin, auctioned in the ANP’s 11th Bidding Round.
The transaction is subject to approval from the relevant government agencies, as well as the effective date for refund of signing bonus, at approximately R$7 millions, equivalent to the stake of 35% in the area.
Source:
http://www.youroilandgasnews.com/news_item.php?newsID=96610
