Completion of Sale of Vulcan Satellite Discoveries

Verus Petroleum is pleased to announce the completion of the sale of its interests in the Vulcan satellite gas fields (Vulcan East, Vulcan North West and Vulcan South) to Independent Oil and Gas plc.

Verus is focused on the creation of value through the acquisition of production assets and, ultimately, through development.

Commenting on the deal, Alan Curran, Chief Executive of Verus Petroleum said: “The completion of the sale of these discoveries to IOG is an important further step in re-shaping our portfolio consistent with the Verus strategy to focus initially on building a portfolio of quality producing assets before investing in development opportunities.

“This transaction is also aligned with the OGA objective of “getting the right assets into the right hands.” We wish IOG success in the development of these fields.”

Return to News