LONDON (Alliance News) - SOCO International PLC said Monday it has agreed to extend the long-stop date for the sale of its entire 80% stake in SOCO Cabinda Ltd to August 17 to allow additional time for approvals.
The oil and gas company in July entered into a sale and purchase agreement with Quill Trading Corp and WMLC Resources Ltd to sell its entire interest in SOCO Cabinda for USD5 million.
SOCO Cabinda currently holds a 22% working interest in the production sharing contract for the Cabinda North Block, onshore Angola.
Shares in SOCO International were down 0.1% at 97.10 pence on Monday morning.