3rd Nov 2014 17:37
LONDON (Alliance News) - 3Legs resources PLC Monday said it has finalised the sale of three of its concessions in the eastern Baltic basin to a subsidiary of Stena AB.
The sale was through 3Legs selling its entire shareholding in its Polish subsidiary, Lane Energy Exploration SP. The deal is worth a total consideration of EUR500,000, with EUR470,000 already being paid and the remaining EUR30,000 due to be paid to 3Legs in February 2015.
3Legs decided to sell the three concessions in the eastern Baltic basin, after prioritising three concessions in the western Baltic basin for further operations, it said in a statement.
3Legs shares closed down at 18.07 pence per share Monday.
By Joshua Warner; [email protected]; @JoshAlliance
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