Petroleum Africa
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Tuesday, December 17, 2013
Cooper Energy is opening a data room for the sale of its Tunisian portfolio. The company previously announced its intention to divest the Tunisia portfolio after completion of the Hammamet West-3 well. Early interest in acquiring the Tunisian portfolio has been strong, with a number of potential bidders expressing their interest in advance of the formal commencement of the sales process. The data room will open in February.
In the absence of a compelling offer, Cooper considers that the greatest value will be realized through a sale after the drilling of the second sidetrack to Hammamet West-3 planned for mid-2014.
The opening of the data room in February will provide potential bidders the opportunity to commence their analysis of what is an extensive portfolio encompassing three permits, covering approximately 12,600 sq km of acreage and numerous prospects and leads.
Cooper Energy is being advised on the sale of the Tunisia portfolio by Miro Advisors.
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