Tullow Oil: Gabonese debt

Issue 244 - 29 Nov 2012
Tullow Oil said on 19 November it agreed to issue 224,955 ordinary shares to Petrolin Trading Limited to settle a $5m debt of its subsidiary, Tullow Gabon Limited. Tullow Gabon had agreed to pay Petrolin the amount in exchange for the termination of agreements giving Petrolin the right to market part of Tullow’s West Africa crude oil production.

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