Oil & Gas Innovation OGI Winter 2018 Digital Version - Page 35

NEWS - SOUTH AMERICA Delek Acquires Rights in Oil Assets in the Gulf of Mexico D elek Group announces that further to its Immediate Report dated December 24, 2017 regarding signing of a non-binding letter of intent to invest in and/or acquire oil and gas assets in the Gulf of Mexico, USA, on January 8, 2018, the Delek GOM Investments LLC, a wholly owned foreign subsidiary (“The Buyer”), contracted with Gulf Slope Energy Inc. and Texas South Energy Inc.and Texas South Energy Inc. (“Gulf Slope”, “Texas South”, respectively, and jointly “the Transferors”) in an agreement for the acquisition of oil and gas rights. The Transferors are public companies whose shares are traded on in the USA (OTC). Petrobras Signs Agreement in Principle to Settle Class Action in the U.S. P etrobras announces that it has signed an agreement in principle to settle the securities class action lawsuit filed in the United States District Court for the Southern District of New York (“SDNY”). The agreement, which is subject to approval by the court, is intended to resolve all pending and prospective claims by purchasers of Petrobras securities in the United States and by purchasers of Petrobras securities that are listed for trading in the United States. It eliminates the risk of an adverse judgment which, as Petrobras has previously reported, could have a material adverse effect on the company and its financial situation, and puts an end to the uncertainties, burdens and costs of protracted litigation. Under the proposed settlement, Petrobras has agreed to pay US$ 2.95 billion to resolve claims in two installments of US$983 million and a last installment of US$984 million. The first installment will be paid within 10 days of preliminary approval of the settlement by the court. The second installment will be paid within 10 days of final approval of the settlement. The third installment will be paid by the later of (i) six months after final approval, or (ii) January 15, 2019. The total settlement amount will be recognized in the fourth qu 'FW"b#rFR76WG2VFW"FRw&VVVB&R"fVFW&Bv0W&FFWfVVBB&GV7FV6W2FRW6W6fPV6֖2RbW6U4FR6rvFW'2W72FSЦFWF( FRV6W>( B( FR76WG>( ҒFR76WG2&V2FPG&6fW&'2FVFfVB&7V7G2f"W&FG&Ɩr( FP&7V7G>( Ғbv6r&RFVWW'2B"6rW'2FP'WW'2VFW'FFRw&VVVBFf6RRbFR67BbFPGvFG&Ɩw2FR( F^( B( 6^( &7V7G2( FRf'7B7FvP76WG>( Ғ&WGW&f"sRRbFR&vG2FRf'7B7FvR76WG2FP&Vbv6FRG&Ɩw2v&R6'&VBWBBFFv66@W6VVBU4BS֖ƖBFFFFR'WW"vfRFF7V&R&vG2FR&Vr&7V7G2&6VBFRV66ЦFW67&&VBW&RFR6v&fFRFR'WW"vF6&VFW'0Ff6RFR67BbFW6RGvG&Ɩw2g&FWVFVB6W&6W266&FrF&W6W&6W2&W'B&V6VfVB'FR6g&ФWFW&B6WvVB766FW22( 4( Ғ&W&VB66&F6RvFFRwVFVƖW26WBWBFRWG&WV&W6W&6W0vVVB77FV&fVB'FR66WGbWG&WVVvVW'05R$2BGF6VB2VF"FF2&W'BW&R( FP&W6W&6W2&W'N( Ғ2bFV6V&W"3#rFR&W7BW7FFRSFRVFGb&7V7FfR&W6W&6W2FRf'7B7FvR76WG22֖Ɩ&'&V2bBsr$4bGW&v2#$SVFW FR&W6W&6W2&W'BFRFFVFGb&W6W&6W26WfV&7V7G22bFV6V&W"3#r&6VBFR&W7BW7FFRS2B֖Ɩ&'&V2bBBD4bGW&v2C#2$R( FRw&VVVBFW2B67FGWFRF֗76bw&vFr ֗66GV7B'WG&'&2FRw&VVVBWG&'&2W&W76ǒFVW0Ɩ&ƗGF2&VfV7G2G27FGW22f7FbFR7G2V6fW&VB'W&F6"v62&V6v旦VB''&ƖWF&FW26VFpFR'&Ɩ7W&VR6W'B2f7FbFR66VRWG&'&02&VG&V6fW&VB"CCsR&Ɩ&W7FGWF'&Bv6FVRFW'7VRf&RVv&VVFW2g&7V&R6W0BFfGV2FRw&VVVB2FR6( 2&W7BFW&W7BBFBbG06&VFW'2vfVFR&62bfW&F7BGf6VB'W''F7V&FW0bU2&6VGW&RB6V7W&FW2w22vVG276W76VBbFR7FGW0bFR6727FBFRGW&Rb7V6ƗFvFFRVFVB7FFW2vW&Rǒ&FVǒ2Rb6V7W&FW2&VFVB6727F0&6VVBFG&FRw&VVVBvr&R7V&֗GFVBFFRF7G&7B6W'BFR4D否f"&WfWrb&VƖ֖'&f2w&FVBFR6W'BvFgFPV&W'2bFR672bFRFW&2bFR&6VB6WGFVVBgFW 66FW&r&V7F2BV&rFRf&W72bFR&6V@6WGFVVBFR6W'BvFV6FRvWFW"Fw&Bf&f2&W7VBbFRw&VVVBFR'FW2v6FRVFVB7FFW07W&VR6W'BFFVfW"66FW&FbWG&'&>( 2WFFf"w&@b6W'F&&v6v266VGVVBf"V'R#VFrf&fbFR&6VB6WGFVVB( 3