Ecosse Energy Corp

Type: Company
Name: Ecosse Energy Corp
First reported Jul 09 2014 - Updated Jul 09 2014 - 1 reports

Ecosse Energy Announces Sale of Ecosse Energy (Manokwari) Ltd

) - Ecosse Energy Corp. (the "Company"), a company focused on oil and gas exploration and production in Indonesia, announces that it has sold its subsidiary company Ecosse Energy (Manokwari) Ltd ("EEML") to PT Morrison Oil ("PTMOL") an Indonesian oil ... [Published MarketWired - Jul 09 2014]

Quotes

"The Company obtained control of EEML in December 2010, but has been unable to secure necessary funding or further extensions to allow us to fulfil EEML's required work programs in Indonesia. This puts EEML in potential default to the Indonesian authorities. PTMOL, a related party to a director, is now willing to assume the risks and liabilities of taking over EEML. The divestment of EEML will allow Ecosse Energy Corp to refocus its ongoing business to potential assets in North and South America, a region which will allow us easier access to equity investment capital" said Alan Morrison, President and CEO of Ecosse Energy Corp

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