MGYOY Mol Magyar Olay Es Gazipari Rt (PK)

BUDAPEST--Hungarian oil and gas company MOL Nyrt. (MOL.BU), the country's largest refiner by market share, sold the company that owns the exploration license for the Surgut‐7 exploration block in Russia.

MAIN FACTS:

-MOL announced its plan to sell the block on 12 August 2013 in line with its portfolio optimization plans.

-The Surgut‐7 block is strongly linked to the infrastructure of the Zapadno‐Malobalykskoye field, which was until recently also a MOL asset. MOL sold these assets in a package deal, it said in a stock exchange filing.

-MOL closed trading up 1.9% or HUF295 at HUF16,195.

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