VOL. XLV

No 30

29-July-2002

EGYPT

Naftex Sells WEEM Interest To Lukoil

Canadas NaftexEnergy Corporation and its wholly-owned subsidiary Coplex(Egypt) Limited announced last month that they have agreed to sell theirinterests in the West Esh El Mallaha(WEEM) concession in Egypt to Russias Lukoil Internationalfor $7.3mn. Naftex said in a statement that thetransaction will result in Lukoil and existing WEEMshareholder Cabre, an indirect wholly-ownedsubsidiary of Lukoil Overseas Holding, becoming the...