Plutus Strategies successfully completes divestment of Georgian Oil & Gas Assets for Australian Public Company Georgian Energy. Georgian Energy held 100% of 2 Production Sharing Agreements (PSA's) in the prospective Kura basin in the East of the Republic of Georgia. Plutus Strategies successfully facilitated the 100% sale of these assets to a private Georgian company Georgian Oil and Gas (GOG). The assets consit of the exploration blocks VIII, the largest block in the country and XIg 15km west of the Samgori field, the largest in discovery in Georgia to date.
Continued Involvement for Plutus
Following the completion of the transaction Plutus have been carried over by the buyers GOG with a mandate to help restructure the company and raise capital to further the companies operations on it's 9 PSA's including one producing block. Plutus Strategies therefore look forward to a continued involvement in the Georgian Oil and Gas sector and the development of the highly prospective GOG blocks.