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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
08/25/201617:07:08Statement of Changes in Beneficial Ownership (4)
08/25/201617:07:08Statement of Changes in Beneficial Ownership (4)
08/25/201617:06:42Statement of Changes in Beneficial Ownership (4)
08/25/201617:06:16Statement of Changes in Beneficial Ownership (4)
08/25/201617:05:51Statement of Changes in Beneficial Ownership (4)
08/25/201617:05:51Statement of Changes in Beneficial Ownership (4)
08/25/201617:05:51Statement of Changes in Beneficial Ownership (4)
08/25/201617:04:59Statement of Changes in Beneficial Ownership (4)
08/25/201617:04:35Statement of Changes in Beneficial Ownership (4)
08/25/201617:03:43Statement of Changes in Beneficial Ownership (4)
08/12/201618:25:24Statement of Changes in Beneficial Ownership (4)
08/12/201618:24:27Statement of Changes in Beneficial Ownership (4)
08/12/201618:23:57Statement of Changes in Beneficial Ownership (4)
08/12/201618:22:52Statement of Changes in Beneficial Ownership (4)
08/08/201606:04:43Current Report Filing (8-k)
08/08/201606:03:44Quarterly Report (10-q)
08/02/201618:24:04Statement of Changes in Beneficial Ownership (4)
08/02/201606:06:19Current Report Filing (8-k)
08/02/201606:06:19Automatic Shelf Registration Statement of Securities of Well-known...
07/14/201616:26:59Current Report Filing (8-k)

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