MPCL to acquire 100% working interest
Currently holds working interest of 58.8235% and 41.1765% respectively
Mari’s share price decreased 1.31%, or Rs19.86, to close at Rs1,500.07 with 5,720 shares changing hands at the PSX. PHOTO:REUTERS
KARACHI:
Mari Petroleum Company Limited (MPCL) announced on Friday its intention to acquire 100% working interest in an exploratory and production well located at Sukkur, Sindh. MPCL and Petroleum Exploration (Private) Limited (PEL) are joint venture partners in block 2,768-9 (Sukkur). They are currently holding working interest of 58.8235% and 41.1765% respectively, MPCL Company Secretary Assad Rabbani said in a notification to the Pakistan Stock Exchange (PSX). “Subsequent to the approval by MPCL board of directors, it has signed a farm-in/farm out agreement with PEL to acquire its entire 41.1765% working interest in block 2,768-9 (Sukkur),” he said. “Accordingly, MPCL will become 100% working interest owner of the block.” Mari’s share price decreased 1.31%, or Rs19.86, to close at Rs1,500.07 with 5,720 shares changing hands at the PSX.
Published in The Express Tribune, September 8th, 2018.
Mari Petroleum Company Limited (MPCL) announced on Friday its intention to acquire 100% working interest in an exploratory and production well located at Sukkur, Sindh. MPCL and Petroleum Exploration (Private) Limited (PEL) are joint venture partners in block 2,768-9 (Sukkur). They are currently holding working interest of 58.8235% and 41.1765% respectively, MPCL Company Secretary Assad Rabbani said in a notification to the Pakistan Stock Exchange (PSX). “Subsequent to the approval by MPCL board of directors, it has signed a farm-in/farm out agreement with PEL to acquire its entire 41.1765% working interest in block 2,768-9 (Sukkur),” he said. “Accordingly, MPCL will become 100% working interest owner of the block.” Mari’s share price decreased 1.31%, or Rs19.86, to close at Rs1,500.07 with 5,720 shares changing hands at the PSX.
Published in The Express Tribune, September 8th, 2018.