2009-08-19-2007-09-01
Transaction Type
Sellers
Buyers
Announce Date
Post Date
Estimated Price
$23.6MM
Description
Share offering
CanArgo Ltd., a subsidiary of CanArgo Energy Corp., Guernsey, U.K., (Amex, Oslo: CNR) has increased its offer to sell 8 million shares of Guernsey, U.K.-based Tethys Petroleum Ltd. to US$2.95 each for approximately US$23.6 million. CanArgo previous planned to offer the shares at US$2.56 for a total US$20.5 million. Tethys has activities in Kazakhstan and Tajikistan. The proceeds from the sale will be used by CanArgo to pay existing debt.