PetroNor acquires Aje interests from New Age in OML 113.
NORDIC BUSINESS REPORT-October 3, 2023-PetroNor acquires Aje interests from New Age in OML 113
(C)2023 M2 COMMUNICATIONS http://www.m2.co.uk
Natural resources investing company ADM Energy PLC (AIM: ADME) (BER: P4JC) (FSE: P4JC) reported on Tuesday that PetroNor E&P Limited (OSE: PNOR) has acquired New Age (Africa Global Energy) Ltd's 32% cost sharing interest and 24% profit share interest in OML 113 for an upfront consideration of USD6m, with a potential USD20m contingent consideration based on future gas production volumes.
This move marks PetroNor's second acquisition in the field, following its previous acquisition of Panoro Energy ASA's subsidiaries in July 2022. The acquisition aligns with PetroNor's commitment to portfolio expansion and shareholder value, enabling plans...
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