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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
09/01/201516:16:49Statement of Changes in Beneficial Ownership (4)
08/24/201517:38:15Statement of Changes in Beneficial Ownership (4)
08/21/201513:21:26Statement of Changes in Beneficial Ownership (4)
08/14/201511:30:03Statement of Changes in Beneficial Ownership (4)
08/11/201519:31:32Statement of Changes in Beneficial Ownership (4)
08/07/201516:21:11Statement of Changes in Beneficial Ownership (4)
08/07/201511:42:56Statement of Changes in Beneficial Ownership (4)
08/07/201511:20:13Statement of Changes in Beneficial Ownership (4)
08/05/201509:00:00Independent Oil and Gas Technical Review -- Hess, Energy XXI...
08/05/201506:12:32Quarterly Report (10-q)
08/05/201506:06:27Current Report Filing (8-k)
08/05/201506:00:00Gran Tierra Energy Inc. Announces Second Quarter 2015 Results
08/05/201506:00:00Gran Tierra Energy Inc. Announces Second Quarter 2015 Results
08/03/201509:00:00Gran Tierra Announces Conference Call for 2015 Second Quarter...
08/03/201509:00:00Gran Tierra Announces Conference Call for 2015 Second Quarter...
07/28/201506:04:03Current Report Filing (8-k)
07/27/201518:00:00Gran Tierra Energy Inc. Announces Approval of Normal Course Issuer...
07/27/201518:00:00Gran Tierra Energy Inc. Announces Approval of Normal Course Issuer...
07/22/201518:39:00Gran Tierra Energy Inc. Announces Normal Course Issuer Bid
07/22/201518:39:00Gran Tierra Energy Inc. Announces Normal Course Issuer Bid

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