Sequa Petroleum N.V. - Transaction Update

LONDON, December 22, 2015 /PRNewswire/ --

Following discussions, Wintershall and Tellus, a 100% Sequa Petroleum N.V. subsidiary, have agreed not to proceed with the Wintershall-Tellus transaction, announced on 18 June, 2015, in the current market environment.

Tellus is evaluating the Ivar Aasen transaction with OMV in the light of the decision not to proceed with the Wintershall-Tellus transaction.

Tellus is progressing with the preparations for financing the Gina Krog transaction with Total, with the transaction planned to close early in 2016.

Sequa Petroleum N.V., Registered at the Dutch Chamber of Commerce No. 58633618 with a Corporate Seat in Amsterdam.
UK Company No. FC031530, UK Establishment No. BR016598

Contacts:
Jacob Broekhuijsen - CEO
Carol Frost - Director HR & Communication
[phone] or [e-mail]