Panoro Energy has agreed to sell all of its equity in Nigeria’s OML 113, which holds the Aje field, to PetroNor E&P. Panoro holds an economic interest of 12.19% in OML 113, and PetroNor has agreed to acquire Panoro’s interest in OML 113 for US $10m to be paid in new PetroNor shares, with a contingent future payment of up to $25m based on future gas production volumes.
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