Nautilus Marine Services Limited, announces that on 27 September 2019, the Company entered into a share purchase agreement (the “Agreement’) with COG Energy Ltd. (“COG” or “Purchaser”). COG is majority-owned by Carlyle International Energy Partners. This Agreement is for the disposal of the rights and obligations of the Company’s¬†Bolivar and Bocachico contract areas within the Middle Magdalena Valley Basin of Colombia effective 1 January 2019 (the “Transaction”).

 

This disposal was effected by the sale of the entire issued share capital of the Company’s wholly-owned subsidiaries, Lagosur¬†Petroleum¬†Colombia,¬†Inc.,¬†Cinco¬†Ranch¬†Petroleum¬†Colombia,¬†Inc., and¬†Global¬†Energy¬†Management¬†Resources¬†¬†Colombia¬†Inc. which comprise all of the Company’s holdings in Colombia.

 

The Transaction is in line with the Company’s previously announced intentions to divest of its Colombian oil and gas properties. As a result of this sale, Nautilus no longer owns any oil and gas contracts or assets in Colombia.

 

 

For further information, please contact:

 

Nautilus Marine Services Limited

nautilusirinfo@nmsplc.com

www.nautilusmarineplc.com