Transeuro
Energy announces it has entered into a Joint Venture (JV)
with RAG in the Crimea. Under the agreement, RAG will pay
Transeuro Energy an initial undisclosed sum and further
payments of well and other costs on two of the principal
fields in the JV. The potential contribution by RAG to the
total capital budget for 2008 and 2009 is up to US$70 million
with Transeuro responsible for its remaining share of well
and seismic costs. Following success of the Karlavksoye101
and Povotonoye 104 wells both RAG and Transeuro each envisage
investing around US$ 280 million into these two Crimea fields.
Link
to press release April 02, 2008:
http://www.transeuroenergy.com/s/NewsReleases.asp?ReportID=294272&
_Type=News-Releases&_Title=Transeuro-Signs-Joint-Venture-Agreement
