Black Sea Oil & Gas SRL and S.N.T.G.N. Transgaz S.A. sign a Cooperation Agreement

Bucharest Romania, 1 March 2016

On 30th December 2015 BSOG and its Joint Venture partners in the Midia Gas Development (“MGD”), Petro Ventures Europe BV and Gas Plus International BV, signed a Cooperation Agreement with S.N.T.G.N. Transgaz S.A. under which the Parties agreed to cooperate in good faith and use all reasonable efforts to align plans and schedules in order to achieve a timely suitable connection between the XV MIDIA Block and the NTS.