Oilexco Inc.(Calgary,Canada)has agreed to acquire the interests of Pentex Oil U.K.Ltd.(Gairloch,England)for cash in the currently producing Balmoral and Glamis light oil fields,and the Balmoral floating production vessel,Block 16/21,in the Outer Moray Firth area of the U.K.North Sea.The agreement to purchase was subject to,among other things,waiver of the partners'pre-emptive rights and government and regulatory approvals,all of which have been satisfied.
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