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Monday, August 08, 2005

Oil Field Sale Delayed

08/08/2005 (10:50) RZD News - Victoria Oil & Gas, a British investor in natural resources projects in the former Soviet Union, said its purchase of a 15 percent stake in a Russian oil and gas field had been delayed after an examination of the seller's ownership title. "It is disappointing that this delay has occurred, but our long experience in the former Soviet Union has taught us to be very thorough with the due diligence process," Victoria Oil chairman Kevin Foo said Friday in statement, reports The Moscow Times referring to Bloomberg.

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