May 10, 2017 / 11:55 AM / 2 months ago

BRIEF-United Hydrocarbon International Corp enters into agreement with Delonex

1 Min Read

May 10 (Reuters) - Dundee Corp:

* United Hydrocarbon International Corp enters into agreement with Delonex

* Dundee Corp- subsidiary, United Hydrocarbon International Corp has entered into an agreement with Delonex Energy Ltd

* Says Delonex will pay $35 million on closing of transaction, and will pay an additional $50 million if first oil is achieved

* Dundee Corp - under terms of agreement, Delonex has committed us$65 million in funding within two years of closing date

* Dundee - under deal Delonex will acquire United Hydrocarbon Chad Ltd,unit of United, and holder of United's psc in republic of Chad Source text for Eikon: Further company coverage:

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