CNPC International (Chad) Ltd., an indirect subsidiary of China-owned, Beijing-based China National Petroleum Corp., has acquired Chad-based EnCana (Chad) Holdings Ltd., an indirect subsidiary of EnCana Corp., Calgary, (Toronto, NYSE: ECA) for approximately US$202.5 million. EnCana International (Chad) holds a 50% working interest in a Convention and Permit H, which covers approximately 54 million gross acres (27 million net) in the Lake Chad, Bongor, Madiago, West Doba, Doseo, Salamat and Erdis basins. EnCana has also drilled 11 exploration wells. Divesting the assets is part of EnCana’s plans to focus on core North American resource plays. EnCana has now sold all of ts African exploration properties. BNP Paribas was financial advisor to EnCana.
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