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Stock Market & Financial Investment News

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April 3, 2014
14:53 EDTESCREscalera Resources Co. to form international joint venture
Escalera International Co., a subsidiary of Escalera Resources Co. announced it has signed a Memorandum of Understanding to enter into an energy joint venture headquartered in Tirana, Albania. The purpose of the proposed joint venture between Escalera International and AOR Albanian Oil Rafinery is to identify and acquire upstream oil and gas drilling opportunities along with related facilities and infrastructure in Albania. The JV will be owned equally by both parties and is subject to approval by both parties as well as the outcome of normal due diligence procedures conducted by both parties.
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