Shell MOU with Regal Petroleum update
Posted: 23 November 2007
Shell has decided not to proceed with the recently signed MOU for exclusive negotiations with Regal Petroleum plc regarding Ukraine assets.
Shell recently signed an memorandum of understanding (MOU) for exclusive negotiations with Regal Petroleum plc regarding Ukraine assets.
The MOU with Regal was agreed with the previous management team.
The management change of 22nd November at Regal was not expected by Shell, and comments from the new management indicates a change of thinking on this transaction.
Regal have indicated that they would like to review options and Shell has decided not to proceed with the MOU with Regal.
Posted by Richard Price, Editor, EnergyME.com
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