Petrelâs Schuepbach subsidiary has entered into a share purchase agreement for the sale of up to a 49.9% of its local arm to Prospex O+G for up to â¬2,053,750. Involved is the Tesorillo project in Andalucia, S. Spain, under suspension since 2013 pending tangible drilling plans. The final closing is subject to, inter alia, the completion of a magnetotelluric programme and the approval of a Tesorillo appraisal (presumably Almarchal-2) for drilling within the 6-year licence term. Both the Tesorillo and adjacent Ruedalabola blocks are involved in the above, total 380 sq km.  
Spain, Ruedalabola