News Article - Serbia Won't Rule Out Nationalizing
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Posted On: 11/07/2022 9:59:49 AM
News Article - Serbia Won't Rule Out Nationalizing Its Oil Industry - Good For East West
This is good news for East West as it would allow the company to complete the cash & royalty deal mentioned in their management discussion information:
On page 4 of MD&A - Negotiations were progressing well and the parties were moving towards final documentation with essential terms of a monetization event agreed, being some limited cash and a royalty interest. The outbreak of war between Ukraine and Russian brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to sanctions. The Company is considering what steps could be implemented to allow the transaction to proceed.
recent article - https://oilprice.com/Latest-Energy-News/World...ustry.html
This is good news for East West as it would allow the company to complete the cash & royalty deal mentioned in their management discussion information:
On page 4 of MD&A - Negotiations were progressing well and the parties were moving towards final documentation with essential terms of a monetization event agreed, being some limited cash and a royalty interest. The outbreak of war between Ukraine and Russian brought all attempts to implement the agreed terms to a halt, with the issue being that NIS is owned, in part, by a Russian entity which is subject to sanctions. The Company is considering what steps could be implemented to allow the transaction to proceed.
recent article - https://oilprice.com/Latest-Energy-News/World...ustry.html
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