24th Jan 2019 09:29
LONDON (Alliance News) - Nautilus Marine Services PLC on Thursday said it upped its efforts to divest its Colombian oil & gas assets, after receiving "escalating interest" from multiple parties.
Shares in the company were trading up 33% at 7.62 pence each on the back of the news.
The company said that its board believes that the sale of the company's non-strategic assets presents a "significant opportunity to realise cash value", while eliminating the associated annual operating costs and future abandonment obligations.
"It should be noted that these efforts toward a near-term divestiture may not result in an acceptable transaction being identified or completed at this time," Nautilus added.
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