Unknown Russian partners signed a Preliminary Agreement to acquire 50% stake in LLC Eastern Drilling Company from Foraco International SA (TSX:FAR) on April 5, 2023. Transaction is Subject to Russian Authorities approval. The execution of this agreement, which is anticipated to occur in Q4 2023. As on February 2, 2024, A sale agreement has been finalized with a net cash transaction of $2.1 million expected in the first half of 2024, and the Company received authorization from the Russian Authorities to proceed with the sale.

Unknown Russian partners completed the acquisition of 50% stake in LLC Eastern Drilling Company from Foraco International SA (TSX:FAR) on March 18, 2024.