Norway’sDNO International has formally pulled out of talks aimed at salvaging apotential asset acquisition deal with Calvalley Petroleum.
DNO hadearlier called off its proposed C$216.8 million ($213.84 million) all-cashoffer to acquire the Canadian-listed company to boost its position in Yemen.
However, itwas still pursuing a “constructive dialogue towards a transaction” after thelatter was notified that one of its partners intended to dispose of a 25%working interest in Yemen’s Block 9.
Calvalleysubsequently
