Tulip to buy nearshore Dutch gas interests

Ascent Resources has agreed to sell its interests in two blocks in the Dutch North Sea to Tulip Oil Netherlands.

Offshore staff

LONDONAscent Resources has agreed to sell its interests in two blocks in the Dutch North Sea to Tulip Oil Netherlands.

The transaction for the onshore Terschelling-Noord and offshore M10a and M11 licenses involves a total cash consideration of up to €450,000 ($601,000).

M10a and M11 are in shallow water north of Terschelling Island in the southern part of the Dutch North Sea. NAM drilled the M-11-1 discovery well in Rotliegendes sandstones in 1985.

The area has full 3D seismic coverage and many other prospects have been identified.

8/8/2013

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