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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • TransEuro Partner Signs Agreement For Rig For Pov-105 Well 0 comments
    Jul 31, 2013 3:23 PM

    TransEuro Energy (CVE:TSU) announced that its partner Aleator Energy (ASX:AWD) had secured a drill rig for the Pov-105 well in Crimea, Ukraine.

    Aleator has signed a letter of intent with Ukranian firm Ukrburservis, it said.

    The well, with a planned target depth of 4,140 metres, will be in the highly prospective Povorotnoye gas field.

    Aleator secured funding of US$20 million from Gres to support a farm-in deal between it and the firm on the field.

    Under the terms of the farm-in deal, TransEuro will receive US$500,000 upon spudding of the POV 105 well.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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