ADVFN - Advanced Financial Network.
HOME» NYSE » B » BP Stock Price » BP Stock News

Bp Share News

 Bp P.l.c. Stock Price
BP Stock Price
 Bp P.l.c. Stock Chart
BP Stock Chart
 Bp P.l.c. Stock News
BP Stock News
 Bp P.l.c. Company Information
BP Company Information
 Bp P.l.c. Stock Trades
BP Stock Trades

Fastnet Oil & Gas: Completion of Foum Assaka License Farm-out

LONDON--Fastnet Oil & Gas PLC (FAST.LN), a company focused on exploration acreage in Africa and in the Celtic Sea, Wednesday announced the formal completion of its farm-out of a 9.375% interest in the Foum Assaka License, off-shore Morocco, to SK Innovation. MAIN FACTS: -Completion had been previously subject to receipt of a Joint Ministerial Order from the Moroccan Authorities confirming the farm-out and approval for the farm-out transaction from the Korean Ministry of Trade, Industry and Energy. -SK Innovation is due to pay Fastnet accumulated back costs of $20.4 million. -Fastnet is also carried through its share of the drilling costs for the FA-1 well, which is currently ongoing, up to a gross well cost of $100 million as well as either an appraisal well or, at SK Innovation's discretion, a further exploration well (also capped at $100 million gross). -Fastnet holds its interest in the Foum Assaka license area through its subsidiary Pathfinder Hydrocarbon Ventures Ltd. -Following completion of the transaction, Fastnet will hold a 9.375% interest in the Foum Assaka License, with Kosmos Energy Deepwater Morocco, a subsidiary of Kosmos Energy Ltd. holding 29.925%, BP PLC 26.325%, SK Innovation 9.375% and ONHYM the remaining 25%. -Fastnet Oil shares at 1012 GMT traded up 0.38 pence, or 3.5%, at 11.25 pence, valuing the company at GBP38.9 million. -Write to Razak Musah Baba at; Twitter: @Raztweet Subscribe to WSJ:

Stock News for Bp (BP)
11/30/201521:47:00Energy Giants Line Up Behind Carbon-Tax Proposal
11/29/201520:40:00Tehran Presents New Model for Oil-Development Contracts
11/26/201503:20:00Aker Solutions Gets NOK3.2 Billion Contract From BP in Norway
11/25/201510:00:12Is ConocoPhillips Making the Right Choice to Abandon Deepwater...
11/25/201501:40:00Alaska Buys Out TransCanada Stake in LNG Project
11/22/201518:00:03OPEC Issues Another Warning of a Future Oil-Price Spike
11/21/201507:45:03BP's CEO Took On Investors' Fears With Full Force During Its...
11/20/201520:12:00Low Crude Prices Catch Up With the U.S. Oil Patch
11/17/201508:33:00Australia Regulator Rejects BP's Deep-Sea Drilling Plans
11/16/201503:02:00Oil Giants Vow To Keep Payouts As Crude Falls
11/13/201502:42:00Statoil Successfully Bids for New Licences Offshore East Coast...
11/10/201515:45:03The 3 Biggest Risks to Investing in General Electric
11/10/201501:30:00BP Sees Oil Prices in $60/Bbl Range for at Least Next Three Years...
11/05/201509:07:00BP to Accelerate Development of First Phase of Atoll Field, Egypt
11/03/201507:45:02ExxonMobil's Earnings Show It's Prepared for "Lower for Longer...
11/02/201509:20:00BP Says Carbon Charge Needed to Make Renewables Cost Competitive
11/02/201508:58:00BP Says Carbon Charge Needed to Make Renewables Cost Competitive
11/01/201520:46:00Alaska Weighs Curtailing Oil Tax Perk
11/01/201501:59:11Dividend Champions For November 2015
10/30/201511:57:03Ensco's Earnings Start to Roll Over With Its Rig Contracts

Bp and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations