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Malta Oil Unit to Acquire 25 Percent Interest in Carthago Oil License in Tunisia.

Publication: PR Newswire
Publication Date: 29-MAR-06
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK, March 29 /PRNewswire/ -- Nanes Delorme Capital LLC., a New York- based broker-dealer and advisory firm, announced that the firm's client, Carthago Oil Company Tunisia ("Carthago"), executed a binding agreement with Mediterranean Oil & Gas Plc (MOG), a wholly-owned subsidiary of Malta Oil Ltd (MOL) to sell a 25% interest in its Medjerda Block petroleum license in Northern Tunisia.

MOL will freecarry Carthago for a 10% interest in cash contributions from the first and second wells to be drilled on the license, seismic and related works.

"The free-carried...

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