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St Peter Port Capital provides update on Buried Hill after Turkmen and Azeri Governments sign MOU
StockMarketWire.com
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Investment company St Peter Port Capital has provided an update on Buried Hill following an announcement on 21 January, 2021 that the Turkmen and Azeri Governments have signed a memorandum of understanding (MOU) covering the development of a disputed area in the Caspian Sea.
The company said it has been separately confirmed that the area includes the hydro-carbon blocks under licence to Buried Hill by the Turkmen Government, but that it is 'not yet clear' what the impact of the MOU will be on the final commercial arrangements for developing the field, which is to be renamed Dostluk.
St Peter Port Capital said: 'However, the ending of the longstanding dispute between the governments seems to be a historic milestone in unlocking the development of the field.'
At 9:05am: (LON:SPPC) St Peter Port Capital share price was 0p at 3p
Story provided by StockMarketWire.com
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