Problems At Oilexco North Sea Limited
On 7 January 2009, Oilexco North Sea Limited filed for administration due to financial constraints facing its North Sea operations.
On 25 March 2009, it was announced that Premier Oil has proposed an acquisition of Oilexco North Sea Limited for $505m (£346m), launching a rights issue for £171m and securing bank loans to fund the acquisition.
Read more about this topic: Oilexco
Famous quotes containing the words problems, north, sea and/or limited:
“Those great ideas which come to you in your sleep just before you awake in morning, those solutions to the worlds problems which, in the light of day, turn out to be duds of the puniest order, couldnt they be put to some use, after all?”
—Robert Benchley (18891945)
“Come see the north winds masonry.
Out of an unseen quarry evermore
Furnished with tile, the fierce artificer
Curves his white bastions with projected roof”
—Ralph Waldo Emerson (18031882)
“As the shade went up
And the ambulance came crashing through the dust
Of the new day, the moon and the sun and the stars,
And the iceberg slowly sank
In the volcano and the sea ran far away
Yellow over the hot sand, green as the green trees.”
—John Ashbery (b. 1927)
“To believe her limited in range because she was harmonious in method is as sensible as to imagine that when the Atlantic Ocean is as smooth as a mill-pond it shrinks to the size of a mill-pond.”
—Rebecca West (18921983)