Vermilion Energy Buys Northern Petroleum Nederland

Vermilion Energy Buys Northern Petroleum Nederland

Vermilion Energy Inc. announces that it has completed its previously announced transaction with Northern Petroleum Plc. whereby Vermilion, through its wholly-owned subsidiary, has acquired 100% of the shares of Northern Petroleum Nederland B.V.

NPN is the Netherlands subsidiary of UK-based Northern. Based on the effective date of January 1, 2013, and customary closing adjustments, Vermilion’s cash cost for the Acquisition was $27.5 million which was funded from cash on hand. Vermilion also granted Northern minority net profit participation rights on select license interests included in the Acquisition.

[mappress]

Press Release, October 11, 2013

 

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