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LUNDIN BOOSTS STAKE IN RED SEA OIL

Lundin Oil has increased its ownership of Canadian firm Red Sea Oil. The Swedish group has reached an agreement to secure the remaining issued and outstanding common shares, which are not already owned by themselves or any of their affiliates. Lundin Oil presently holds 61% of common shares in Red Sea. Under the terms of the deal, sole Red Sea shareholders stand to inherit 0.47 series B shares of Lundin Oil for each common share they hold in Red Sea.

News Item details


Websites: www.llplimited.com

Organisation: Lundin Oil|Red Sea Oil

Subjects: Oil

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