Harvest In Talks For $137M Sale Of Gabon Operations

Law360, New York (September 30, 2013, 4:47 PM EDT) -- Harvest Natural Resources Inc. has entered into exclusive talks with Dutch commodities trader Vitol SA to sell its majority interest in an oil field off the coast of Gabon for $137 million, the Houston-based oil and gas producer said Monday.

Harvest subsidiary HNR Global Holding BV is negotiating with Vitol to sell its 66.7 percent interest in Dussafu Marine Permit PSC, the holding company for the African offshore project in Gabon.

Net proceeds from the sale are expected to be $123 million after taxes and other...
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