Magna magnifies Oilex stake

OILEX will hand over 12.46% of its equity interest to Magna Energy, making it the cornerstone investor in the company, after a sale and purchase agreement for an interest in the Cambay production sharing contract failed.

Magna magnifies Oilex stake Magna magnifies Oilex stake Magna magnifies Oilex stake Magna magnifies Oilex stake Magna magnifies Oilex stake

The SPA, announced in August last year, led to Magna paying $US4 million ($A4.3 million) to Oilex for an initial 10% participating interest in the Cambay PSC.

loader