Friday, December 25, 2015

Sequa Petroleum N.V. - Transaction Update


          Following discussions, Wintershall and Tellus, a 100% Sequa Petroleum N.V. subsidiary, have agreed not to proceed with the Wintershall-Tellus transaction, announced on 18 June, 2015, in the current market environment.

          Tellus is evaluating the Ivar Aasen transaction with OMV in the light of the decision not to proceed with the Wintershall-Tellus transaction.

          Tellus is progressing with the preparations for financing the Gina Krog transaction with Total, with the transaction planned to close early in 2016.

          Sequa Petroleum N.V., Registered at the Dutch Chamber of Commerce No. 58633618 with a Corporate Seat in Amsterdam. UK Company No. FC031530, UK Establishment No. BR016598

          Contacts:
          Jacob Broekhuijsen - CEO
          Carol Frost - Director HR & Communication
          +44(0)203-728-4450 or info@sequa-petroleum.com

          Source: Sequa Petroleum N.V.

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