UK-listed Fortune Oil said it now owns 100% of the Liulin coalbed methane (CBM) block in China's Shanxi province after acquiring 26.1% from Australian partner Molopo Energy. Molopo will receive US$4 million in cash and US$2 million in the form of 14.3 million new Fortune Oil shares. It had been looking to exit the block to focus on unconventional gas plays in Australia and North America.
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