Caravel sells Madagascar stake

摘要

Tel lus Resources has agreed to buy Caravel Energy’s 25% stake (ability to earn up to 80%) in PetroMad Mauritius Ltd, which owns a 100% inter- est in the Bezaha oil project concession in Southern Madagascar. Under the Sale deal, Tellus has agreed to acquire: Caravel’s 25% stake in PetroMad Mauritius and all of Caravel’s rights and obliga- tions under an agreement entered into with the owner of the remaining 75% interest in PetroMad.