Benchmark Energy Closes Sale of its Cosmos Oil Field Stake.Summary: Benchmark Energy Corp. reports that it has completed the sale of the Company's 31.67% net interest in the offshore Cosmos cosmos (kŏz`məs), any plant of the tropical American genus Cosmos of the family Asteraceae (aster family). C. bipinnatus, concession in Tunisia to a wholly-owned subsidiary of Calgary-based Storm Ventures International Inc. Benchmark Energy Corp. reports that it has completed the sale of the Company's 31.67% net interest in the offshore Cosmos concession in Tunisia to a wholly-owned subsidiary of Calgary-based Storm Ventures International Inc. The Company received a total of US $5.65 million in cash, and will net approximately US$5.2 million after buying-out a carried interest holder; Benchmark had agreed to sell to SVI SVI Serveur Vocal Intéractif (French) SVI Sludge Volume Index (biological wastewater treatment - clarifiers) SVI Shareholder Value Index SVI Schweizerischer Verband der Informatikorganisationen its interest as well as a 1.66% carried interest held by another party, for a total 33.33% interest. Benchmark carried the Cosmos interest on its balance sheet at a value of $458,926. If SVI subsequently sells the Cosmos interest to an arms-length party during the first 6 months from the signing of the Sale and Purchase Agreement, Benchmark shall be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to receive 50% of any proceeds of the sale of greater than US$6 million, net of costs. The sale of the Cosmos interest in Tunisia permits Benchmark to focus all of its resources on opportunities in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . Benchmark is a junior Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. oil and gas exploration company, focused internationally. Copyright UMCI News Provided by Syndigate.info an Albawaba.com company |
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