Close

Welcome back to Stockhouse
Member Sign In

Email or Username:
Password:
Close

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Enter your email address:
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

Westbridge Energy completes acquisition of additional licenses

Stockhouse Editorial
1 Comment| June 26, 2013


Westbridge Energy Corp. (TSX: V.WEB) said that it has completed the previously announced acquisition of a 75% interest with Ropat Petroleum Investments (PTY) Ltd., a private oil and gas company, in the oil and gas exploration blocks 1910A Relinquished, 1911A Relinquished, 1912B and 2011A Relinquished offshore Namibia.
 
The transaction increases Westbridge's total contiguous acreage in the Walvis Basin, offshore Namibia to 22,484 square kilometers.
 
According to the Westbridge Energy press release, following the close of the transaction, Westbridge will be the operator of the licenses with a 75% interest.
 
Ropat will have a 15% carried interest and the remaining 10% will be a carried interest held by NAMCOR, the Namibian state oil company.
 
Westbridge is an international oil and gas exploration and development company with a robust portfolio of oil and gas licenses in the vastly underexplored and highly prospective, oil prone Walvis Basin, offshore Namibia

On Wednesday, Westbridge was trading at $0.13 a share. The company had a market cap of $10.3 million, based on 79.5 million shares outstanding.
 

Tags: OIL & GAS E&P

Rate this article
3 stars
v
Usefulness

Clarity

Credibility

Comments

rowen78
Could be a lot of upside to this stock.Have held for awhile and was contemplating a sell. Think I will hold a little longer and see what developes.........thoughts anyone? Cheers Rowen
3 stars
June 26, 2013
Rate this comment
0 stars
v
Usefulness

Clarity

Credibility

Leave a Message

You must be logged in to access this feature.