🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

BRIEF-Toscana Energy will not proceed with acquisition of oil assets

Published 2016-01-12, 05:53 p/m
© Reuters.  BRIEF-Toscana Energy will not proceed with acquisition of oil assets

Jan 12 (Reuters) - Toscana Energy Income Corp TEI.TO :
* Will not proceed with the acquisition of oil assets, will decrease its
monthly dividend and confirms January dividend
* Income - "significant erosion in energy prices coupled with very soft debt
and financial markets are the main drivers in the decision"
* Income- will not proceed with acquisition of assets that produce 300 barrels
a day of light oil production, for $15,000,000 in cash
* Income - changed dividend policy to reduce monthly dividend from $0.10 per
common share of the company to $0.05 per common share
* Income -has changed its dividend policy to reduce its monthly dividend to
$0.05 per common share

* Source text for Eikon ID:nGNXMJCUKa

* Further company coverage TEI.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.