EGYPT

Sea Dragon Adds To Egypt Oil And Gas Assets

Canada’s Sea Dragon Energy plans to add to its Egypt oil and gas assets via a $147.5mn purchase of National Petroleum Company Egypt (NPC Egypt) from Golden Crescent Investments. Golden Crescent is a unit of Cairo-based private equity firm Citadel Capital. The $147.5mn consists of $60mn in cash and 350mn shares of Sea Dragon, which will be issued to Golden Crescent at $0.25 per share. The move will more than double the Calgary-based...