Calgary, Alberta-based Dino Energy Corp. (OTCBB:DINO) has entered into an agreement in which Dino will assume, along with conditions, 49% ownership interest in a newly established company in Qatar, Dino Energy Petroleum Services, to pursue oil and gas exploration and development projects in Qatar.
Dino Energy Petroleum Services is currently waiting for a vendor license to begin its operations. In addition to Dino, there are two other shareholders, one of which is Sheikh Fahad Al-Thani who is a member of the Royal Family of Qatar.
"We are very excited to have this opportunity to join this newly established Qatar company to pursue the exploration and development of oil and gas projects in Qatar. Qatar along with other countries in the Middle East has some of the most prolific oil fields in the world, with a relatively low operating cost,” said Eric Lawson, president and CEO of Dino.