Noble Affiliates Inc., Houston, subsidiary EDC Europe Ltd. and Shell U.K. Ltd. have exchanged North Sea assets. Shell acquired a 12.5% interest in Block 20/4b and cash for a 12.9% interest in Block 21/20a, which includes the Cook Field, which together produce about 55 million cu. ft. of gas per day. Madison Oil Co., Calgary, plans to purchase BP subsidiary Arco Turkey Inc., which has a 19.6% working interest in the Cendere Field, in south-central Turkey, that produces approximately 2,600 bbl. of oil per day from 13 wells, 540 bbl. per day net to Arco. Phillips, Bartlesville, Okla., subsidiary Phillips Australia WA-248 Co. Pty Ltd. plans to acquire Petroz for AU70 cents per share, or AU$158.4 million. Phillips Australia currently has a relevant interest in 19.73% of the issued capital of Petroz. PanAfrican Energy Corp. Ltd., plans to purchase a 32.5% interest in the Etame Marin Permit offshore Gabon, operated by Vaalco Energy Inc. , Houston.
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