HARVEST NATURAL RESOURCES, INC. (NYSE:HNR) Files An 8-K Other EventsItem 8.01
As previously disclosed, on December 21, 2016, Harvest Natural Resources, Inc., a Delaware corporation (the “Company”), and its wholly-owned subsidiary, HNR Energia B.V., a Curacao company (“HNR Energia”), entered into a Sale and Purchase Agreement (the “Sale and Purchase Agreement”) with BW Energy Gabon Pte. Ltd, a private Singapore company (“BW Energy”). Under the Sale and Purchase Agreement, HNR Energia agreed to sell to BW Energy all of HNR Energia’s 50% ownership interest in Harvest Dussafu B.V., a Netherlands private limited liability company (“Harvest Dussafu”) (the “Transaction”). Harvest Dussafu owns a 66.67% interest in the Dussafu production sharing contract covering a 210,000 acre area located offshore of Gabon. All the parties to the Sale and Purchase Agreement previously agreed to extend the Longstop Date under the Sale and Purchase Agreement to April 7, 2017.
As of April 6, 2017, all of the conditions precedent to the closing of the Transaction, other than delivery of the consideration and other customary items at the closing, have been satisfied. The Company expects to close the Transaction on April 10, 2017.
On April 6, 2017, all parties agreed to further extend the current Longstop Date under the Sale and Purchase Agreement from April 7, 2017 to April 12, 2017.
About HARVEST NATURAL RESOURCES, INC. (NYSE:HNR)
Harvest Natural Resources, Inc. (Harvest) is a petroleum exploration and production company. The Company focuses on acquiring exploration, development and producing properties in geological basins with proven active hydrocarbon systems. The Company has interest in the Bolivarian Republic of Venezuela (Venezuela). In addition to its interests in Venezuela, it holds exploration acreage offshore of Republic of Gabon (Gabon).The Company has operations in Venezuela and Gabon. Venezuela operations are conducted through its investment in affiliate Petrodelta. It holds interest in fields, including Uracoa Field, Tucupita Field, Bombal Field, Isleno Field, Temblador Field and El Salto Field. The Dussafu Production Sharing Contract (Dussafu PSC) contract area is located offshore Gabon, adjacent to the border with the Republic of Congo. It contains approximately 680,000 acres with water depths to over 1,650 feet. HARVEST NATURAL RESOURCES, INC. (NYSE:HNR) Recent Trading Information
HARVEST NATURAL RESOURCES, INC. (NYSE:HNR) closed its last trading session up +0.05 at 6.66 with 72,443 shares trading hands.