14:18:16 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



MNP Petroleum Corp
Symbol MNP
Shares Issued 172,592,292
Close 2015-01-14 C$ 0.075
Market Cap C$ 12,944,422
Recent Sedar Documents

MNP Petroleum closes EPA.at acquisition

2015-01-15 06:36 ET - News Release

Mr. Heinz Scholz reports

MNP PETROLEUM CORP. COMPLETES PRODUCTION ACQUISITION

MNP Petroleum Corp. has completed the EPA.at transaction. Pursuant to the supplement agreement dated Sept. 11, 2014, and the notary act dated Nov. 21, 2014, DWM Petroleum AG, a 100-per-cent subsidiary of MNP, through its 100-per-ent subsidiary TF Petroleum AG has completed the acquisition of a 65-per-cent interest in EPA.at, an Austrian-registered company, for total consideration of $12-million (U.S.) to the seller, Kavsar General Trading FZE. EPA.at holds 57.42 per cent of the equity interest in the Tajikistani company Petroleum Sugd; the remaining 42.58-per-cent equity interest in Petroleum Sugd is held by the Tajikistani state oil company Sugdneftugas. Petroleum Sugd owns eight producing oil fields.

MNP has completed an extensive data management campaign in 2013. This data management effort was followed by a geological and geophysical evaluation and a corresponding reservoir/production engineering study in 2014. MNP's future work program is based on workovers of existing wells and drilling of new wells.

Heinz Scholz, executive chairman of MNP, stated: "We are delighted to have finalized this transaction. This transaction also represents a critical step for MNP changing the company from a pure exploration play to an exploration and production company."

We seek Safe Harbor.

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