Published:
Loyz Energy subsidiary acquires drilling units for US$26m
It is not buying any right, title, or interest in any asset.
The Board of Directors of Loyz Energy Limited announced that the company’s indirectly-held subsidiary Loyz Rex Drilling Services LLC has entered into an agreement with JT Oil Consultancy Limited to acquire two drilling units.
The announcement said it is expressly agreed between the vendor and Loyz Rex that Loyz Rex is not purchasing, acquiring or otherwise obtaining any right, title or interest in any asset of the vendor or any of its subsidiaries or associated companies other than the assets.
The consideration payable by Loyz Rex to the vendor is US$26,015,000 for the assets as well as all associated equipment.
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