3rd Sep 2018 08:35
LONDON (Alliance News) - SOCO International PLC said on Monday it has agreed to extend the long-stop date for the sale of its 80% stake in SOCO Cabinda Ltd to September 30 to allow additional time for approvals.
The oil and gas company in July entered into a sale and purchase agreement with Quill Trading Corp and WMLC Resources Ltd to sell its entire interest in SOCO Cabinda for USD5 million.
SOCO Cabinda currently holds a 22% working interest in the production sharing contract for the Cabinda North Block, onshore Angola.
Shares in SOCO International were up 6.3% at 94.69 pence on Monday.
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