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Statoil Farms Down Stakes In Brazilian Exploration Licences

DOW JONES NEWSWIRES Norwegian oil and gas company Statoil (STO) said Thursday it is farming down 10% and 15%, respectively, of its participating interests in the exploration licences BM-CAL-7 and BM-CAL-10 in the Camamu-Almada basin offshore Brazil to Canadian company Gran Tierra Energy Inc. (GTE). MAIN FACTS: -Both licences are located in the Camamu-Almada basin offshore Brazil. -The transaction is subject to approval by Brazilian authorities and other conditions to closing. -Gareth Burns, senior vice president for Exploration strategy and business development in Statoil says: "This transaction is part of Statoil's continued optimisation process to maximise value and reduce portfolio risk." -The BM-CAL-7 licence is operated by Petrobras (PBR) with 60% equity, while Statoil has a 40% share. -BM-CAL-10 is operated by Statoil with 60% equity and Petrobras holds 40%. -At 1226 GMT shares traded 1.8% higher at NOK127.20. -By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; dominic.chopping@dowjones.com

Stock News for Globetel Comms (GTE)
DateTimeHeadline
03/16/201516:30:06Statement of Ownership (sc 13g)
03/12/201518:31:00Gran Tierra Provides Business and Operational Update
03/12/201518:31:00Gran Tierra Provides Business and Operational Update
03/10/201513:48:30Amended Statement of Ownership (sc 13g/a)
03/03/201518:50:46Statement of Changes in Beneficial Ownership (4)
03/03/201518:49:27Statement of Changes in Beneficial Ownership (4)
03/03/201518:48:32Statement of Changes in Beneficial Ownership (4)
03/03/201518:47:53Statement of Changes in Beneficial Ownership (4)
03/03/201518:46:25Statement of Changes in Beneficial Ownership (4)
03/02/201506:31:45Annual Report (10-k)
03/01/201523:31:00Gran Tierra Energy Inc. Announces Fourth Quarter and Year-End...
03/01/201523:31:00Gran Tierra Energy Inc. Announces Fourth Quarter and Year-End...
02/28/201511:00:00Gran Tierra to Host Fourth Quarter 2014 Earnings Conference Call
02/28/201511:00:00Gran Tierra to Host Fourth Quarter 2014 Earnings Conference Call
02/25/201516:14:48Current Report Filing (8-k)
02/17/201513:03:37Statement of Ownership (sc 13g)
02/09/201500:55:00Gran Tierra Re-positions for Lower Oil Prices with a Significant...
02/09/201500:55:00Gran Tierra Re-positions for Lower Oil Prices with a Significant...
02/05/201516:13:26Current Report Filing (8-k)
02/02/201522:00:00Gran Tierra Energy Announces 2014 Year-End Reserves

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