International Petroleum: Sale of Russian Assets and Loans Swapped to Shares
International Petroleum Limited advises that it has entered into share purchase agreement pursuant to which it will sell subsidiary companies, IPL Siberia Limited and International Petroleum Company Limited, to an unrelated company incorporated in the British Virgin Islands (Buyer) for US$13million (Transaction). IPL Siberia indirectly holds the Yuzhno-Sardakovsoye Block Licence, …