Maurel & Prom - Nigeria Acquisition: NNPC Approval

Jun 18, 2010, 01:28 ET from Maurel & Prom

PARIS, June 18, 2010 /PRNewswire-FirstCall/ -- The Board of Nigerian National Petroleum Corporation (NNPC), at its meeting held on 15th June, 2010, approved the sale of 45% equity of SPDC/Total/Eni in OMLs 4, 38 and 41 to SEPLAT (Maurel & Prom 45%), an indigenous company.

It is expected that the final process would be concluded within the coming weeks.

This press release may contain forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Maurel & Prom. By their nature forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. These forward-looking statements are based on assumptions which we believe are reasonable but that could ultimately prove inaccurate and are subject to a number of risk factors, including but not limited to price fluctuations in crude oil; exchange rate fluctuations; uncertainties inherent in estimating quantities of oil reserves; actual future production rates and associated costs; operational problems; political stability; changes in laws and governmental regulations; wars and acts of terrorism or sabotage.

Maurel & Prom is listed on Euronext Paris - compartiment A - CAC mid 100 Indice

    Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
    03/08/2010 1st Half Sales

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    T: 33(0)1-42-72-46-76

SOURCE Maurel & Prom