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Notices
2010-09-23 08:52:21
Nautical part sells Mariner
The 21% stake will be sold to Norwegian company Statoil for GBP87.5m. Mariner is located in license P355 in the North Sea. Following he sale Nautical will have 6% stake in the discovery. The funds from the sale will be used to support development of Catcher and Kraken discoveries and for exploration and appraisal work. Nautical shares are up over 19% at 370/374p.