abce certificate
Monday, 06 October, 2008, 13:40 GMT | more prices >>

Cooper sells stake in Cambodia block



By Upstream staff 

Australia’s Cooper Energy has sold its 10% stake in Cambodia’s offshore Block B to the remaining joint venture partners for up to $3.5 million.

Thailand’s PTTEP, Singapore Petroleum Company and Malaysia’s Resourceful Petroleum will immediately pay $1 million and will pay the remaining amount if a discovery is made and when production exceeds 100 million barrels of oil.

Cooper had originally received a third party offer to buy the stake, but this was pre-empted by the three joint venture partners.


Friday, 05 January, 2007, 00:24 GMT  | last updated: Friday, 05 January, 2007, 03:11 GMT

e-mail this article to a colleague


to email:  from:
comments: