Gas--Acquisition--Canadian company acquires Ukrainian gas exploration company

A Canadian company, Transeuro, acquired a Ukrainian company, Pivdenspetsbud to get access to the rights to exploit a gas field in Western Crimea--Transeuro Announces Acquisition in Ukraine. (Here's a map of the Crimea.)

The rights were acquired by the Pivdenspetsbud through Joint Activity Agreements with a third party company, Crymgeologia. Crymgeologia is the company that holds the license to exploit the gas field.

I don't know for sure, but Crymgeologia sounds like a government or quasi-government entity that you often are left dealing with here.

The gas bearing zone is around 4000 meters. That is more than 12000 feet down. No company here has the technology to drill down that far absent some involvement from Western companies. So they are keen to get outside help and investment. $650,000 seems to be a small price to pay to get in on it. There will be some headaches for them of the regulatory variety but, notwithstanding those, the price looks like a bargain.

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