OT30014 - Capital Gains: Licences for exploration and exploitation - Changes in licences
A company that is party to a licence may wish to sell an interest to another. »Ê¹ÚÌåÓýapp reasons for change can be many and varied.
»Ê¹ÚÌåÓýapp transactions are effected either through the disposal of licence interests and related assets or shares in a company owning those interests/assets depending on a number of factors including both commercial and legal (including tax). Companies seeking to balance their portfolios may agree to swap licence interests although such deals are difficult to arrange. »Ê¹ÚÌåÓýappre can be a number of incentives for swaps. One party may for instance wish to prevent existing participators from exercising pre-emption rights.