EUROGASEuropean Union of Natural Gas Industries
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In order to acquire majority of EuroGas AG from SB Capital AG, Mansfield-Martin will increase its authorised capital to permit the issuance of the necessary shares it will issue to ZB Capital AG in the transaction.
James Watson, Secretary General Eurogas, for his part, said that this is great news and is encouraging to see the EU identifying the role of gas in fighting climate change.
As a first step towards what the association hopes to develop into an ongoing dialogue, Eurogas will host a regional conference in Prague, the Czech Republic, later this month with participants expected to come from industry, regulators and governments.
"Effective competition and investor confidence require a level playing field for all other greenhouse gas reducing technologies," Beate Raabe, Eurogas' secretary-general, said in a statement, on 24 February.
Galizien Energy Corp, a subsidiary of 3P International Energy Corp, has withdrawn its contract with Eurogas GMBH.
It has also joined the Eurogas organization of European energy companies as an associate member.
REB3 is the first well drilled under the Farmout Agreement announced on April 8, 2008 between Eurogas, Atlas Petroleum Exploration Worldwide, Ltd.
British gas specialist BG and Eurogas Corporation of Canada both hold a number of permits.
It was organized by the Energy Charter Secretariat, the International Association of Oil & Gas Producers (OGP) and the European Union of the Natural Gas Industry (Eurogas).
Under the farm-out agreement, Eurogas gas Pioneer the option to operate the three blocks after the drilling of one initial well.