Dekker picks up Tower assets


Issue 339 - 02 Feb 2017 | 1 minute read
Tower Resources has completed the sale of its Comet Petroleum subsidiary to Frederik Dekker’s Red Rio Petroleum. Red Rio is purchasing Comet for a cash consideration of £1, future contingent payments and a royalty interest of 10% over future production revenue from Comet’s three blocks in the disputed Western Sahara.Dekker is a longstanding promoter of the hydrocarbons potential of the Sahrawi Arab Democratic Republic (SADR). Last year, his Hague and London Oil (Halo) acquired Premier Oil’s assets in the territory (AE 327/12).

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