Madagascar Oil Limited (AIM:MOIL) said that an information memorandum has been finalised and a technical data room has been opened with the view to attract a strategic partner to assist the company with the funding and delivery of the initial phases of its Tsimiroro development. "We are making steady progress in our search to secure a potential strategic partner(s), despite the prevailing difficult market conditions, and are very pleased with the level of interest being shown by a number of large international companies. The size of our resource base in Madagascar, the recent approval of our Development Plan for the Tsimiroro Block and the long-term nature of the Tsimiroro licence (at least 25 years from April 2015), is attracting companies of real scale and we will continue to work closely with Jefferies to secure a transaction which adds value for all of our shareholders," Chief Executive Robert Estill said.
Madagascar Oil Limited
Equities
MROIF
BMG5738R1016
Oil & Gas Exploration and Production
1st Jan change | Capi. | |
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+8.40% | 7.41B | |
+4.19% | 4.32B | |
+18.47% | 2.4B | |
+18.94% | 2.06B | |
+2.99% | 1.29B | |
-.--% | 1.11B | |
+25.79% | 672M | |
+20.60% | 571M | |
+42.86% | 512M |