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Tap Oil to Acquire Additional 5% Interest in Offshore Accra Contract Area in Ghana - The Company Strengthens its Presence in the Region - Deal Analysis From GlobalData
GlobalData, Aug 2011, Pages: 5
Tap Oil to Acquire Additional 5% Interest in Offshore Accra Contract Area in Ghana - The Company Strengthens its Presence in the Region - Deal Analysis From GlobalData
Summary
Tap Oil Limited (Tap Oil) executed an agreement to acquire an additional 5% participating interest in offshore Accra contract area located in Ghana from Challenger Minerals Inc (Challenger Minerals), an offshore oil and gas exploration and production company, for a purchase consideration of $1.5m. The transaction will have an effective date of April 1, 2011. Following the acquisition, Tap Oil will hold 45% interest in the offshore Accra contract area. The transaction is subject to the prior written approval of the Ghana National Petroleum Corporation (GNPC) and of the Minister for Energy of the Republic of Ghana. The transaction implies deal value of $60.7 per acre of land.
Scope
- Rationale behind Tap Oil acquiring stake in Ghanaian assets
- Strategic benefits for the companies involved,
- Geography covered -Ghana
Reasons to buy
- Develop a sound understanding of the major M&A's, Partnerships, and Joint Ventures taking place in African industry,
- Identify the most lucrative segments to leverage on the growth oppurtunities available in the Ghana's oil & gas market,
- Get a detailed analysis of a deal to enable you to take better decisions.
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