Calvalley to close after Yemen exit

13 April 2015

Canadian company had attempted to diversify business portfolio outside of Yemen

Canadian energy company Calvalley Petroleum is to liquidate after deciding to exit Yemen due to the ongoing problems in the country. The company has a 50 per cent share in an oil block in Yemen.  

Calvalley Petroleum had attempted to diversify its business portfolio outside of Yemen, but this had not been successful. Shareholders will be offered cash or shares in a sister company, Calvalley Energy.

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