Sumatec Resources Corp Bhd, which is currently entitled to only half of the profits from the the Rakushechnoye oil and gas field in Kazakhstan as its designated operator. plans to take full control by buying the concession owner for US$205mil (RM817.95mil).
In a filing with Bursa Malaysia, the company said it had inked a heads of agreement on Friday to acquire 100% equity interest in Markmore Energy (Labuan) Ltd (MELL) from Tan Sri Halim Saad (via his 99.9%-owned Markmore Sdn Bhd). MELL’s unit CaspiOilGas LLP (COG) is the concession owner and operator.
Halim is also Sumatec’s largest shareholder with 24.5% interest, according to the announcement.
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In a filing with Bursa Malaysia, the company said it had inked a heads of agreement on Friday to acquire 100% equity interest in Markmore Energy (Labuan) Ltd (MELL) from Tan Sri Halim Saad (via his 99.9%-owned Markmore Sdn Bhd). MELL’s unit CaspiOilGas LLP (COG) is the concession owner and operator.
Halim is also Sumatec’s largest shareholder with 24.5% interest, according to the announcement.
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