Pan-Petroleum (Panoro) has reportedly agreed to sell its 12.1913% interest in OML 113 to PetroNor for USD 10 MM. The 1,593-sq km licence in the western delta offshore is home to the producing Aje field.   At the same time, a separate agreement has been reached between PetroNor and Yinka Folawiyo (optr) to create a new 55:45 holding company led by PetroNor for the next phases of the Aje project. Closing of the 2 interlinked deals is pending official clearance. So far Yinka Folawiyo (op), partners New Age, Energy Equity Res, Panoro + MX Oil. Release here.
Pan-Petroleum (Panoro) has reportedly agreed to sell its 12,2% WI in OML 113 (1593Â²km) licence to PetroNor for US$10 MM. 