trinidad: leni gas & oil terminates discssions

Trinidad: Leni Gas & Oil terminates discssions with Range Resources on Goudron partnership

Leni Gas & Oil has formally advised Range Resources that LGO is no longer seeking a partner for its Goudron field in Trinidad.

Neil Ritson, LGO's Chief Executive, commented: 'LGO has successfully funded the acquisition of Goudron and raised working capital by disposing of its Gulf of Mexico assets this week and we now feel that selling up to 50% of Goudron for US$8m would seriously undervalue the asset. LGO has the skills within the Company to develop the proven and probable reserves of 7.2 million barrels and are currently focussing on that work.'

See related article: http://www.energy-pedia.com/news/trinidad/new-148888

Source: Leni Gas & Oil


http://www.energy-pedia.com/news/trinidad/new-152332