Oil, gas firm shoots down reports of transaction

By -
Mart Resources, the Canadian oil and gas company, has refuted media reports, it had entered into a definitive agreement or transaction regarding a sale of the company to Midwestern Oil & Gas Company Limited.
It said it had not entered such a transaction, as reported in the Nigerian media, with any other party.
“The press report has been removed from the Nigerian news agency's website as it is completely without merit and should be totally disregarded,” the company stated.


The oil firm said as previously announced, Mart continues to examine and consider strategic alternatives available to the company to maximize shareholder value and confirms that Mart was not currently in discussions with Midwestern regarding a potential sale.
“Any future strategic alternatives transaction will be subject to applicable regulatory, stock exchange and Mart shareholder approval.”
Mart Resources is an international oil and gas company focused on production and development opportunities in the highly prolific Niger Delta region of Nigeria. Mart was one of the first foreign oil companies to establish ventures with local Nigerian operators under the indigenous and marginal field programme.

Comments

Post a Comment

Popular posts from this blog

How to Start a Business: Step-by-Step

By -
Image
If you're thinking of launching a startup, this step-by-step guide will walk you through all you need to know, from coming up with an idea to building your brand. Brainstorm ideas Every new business starts with an idea. Maybe there's something you're really knowledgeable and passionate about, or perhaps you think you've found a way to fill a gap in the marketplace. Come up with a list of businesses you could see yourself starting. You could start a home-based business like an event-planning company or child care service, or mayb
Read more

EFCC Accuses Man Of Swallowing $115,000 At The Airport

By -
Image
One Onwuasonya Augustine was charged to court on Tuesday by the EFCC for allegedly swallowing $115,000 to avoid declaring it to officials of the Nigeria Customs Service at the Murtala Muhammed International Airport in Lagos. He was arraigned along with five other alleged accomplices, Christian Okoli, Kingsley Nwokenta, aka Buchito, Nwokenta Emmanuel, Ezenwa Ikenna and Ezenwa Uzoma for the offence of money laundering The six were charged with four counts before Justice C.J. Aneke of a Federal High Court in Lagos. The agency alleged that Onwuasonya and the 5 others committed the offence on August 25, 2015, and were apprehended at Room 303 of a five-star hotel in Lagos. The sixth accused, Uzoma, was singularly charged with the offence of obstructing an NDLEA official, Bello Tsanya, in the discharge of his duty. However, when the charges were read to the six accused in court, they all pleaded not guilty. The prosecutor said: “In view of the plea of the accused, I respectf
Read more

CBN extends BVN registration

By -
Following pleas from Nigerians, the Central Bank of Nigeria (CBN) has decided to extend the deadline for the registration for Bank Verification Number (BVN) by another four months. Bank customers who are yet to register now have till October 30 to do so, reports Daily Post. The extension followed the uncontrolled crowd at the different branches of Nigerian banks that has made business transactions almost impossible. The apex bank in a circular to the banks directed them to extend the timeline to their customers to enable them have the BVN. The extension would also give Nigerian bank customers in the Diaspora ample time to register.
Read more