International Petroelum

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, …

Krasnoleninskiy Licence Area – Western Siberia, Russia The Company, through its wholly-owned subsidiary IPL Siberia Ltd, owns a 75% equity interest in Souville Investments Ltd (“Souville”). Souville is the 100% legal and beneficial holder of Irtysh-Neft, a Russian company having exploration rights to four blocks in Western Siberia (“Krasnoleninskiy Project”). …