Flagged up: Midmar move
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Midmar sells UK package
UK player Midmar Energy is poised to sell its Midmar Energy Onshore unit to Australian player Key Petroleum for £2 million ($3.3 million).
The sale sees Midmar sells two 100% owned and operated oilfields, Lidsey and Brockham, in the UK's onshore Weald basin.
Midmar will retain some UK assets - two onshore licences in the Weald basin, Andover PEDL 230 and Bidborough PEDL 248, as well as PEDL 129 Colworth.
The sale is subject to governmental approval and due diligence requirements, and should be completed within 45 days, Midmar said in a release.