Phoenix has taken on a 100% stake from Proen Projetos, Engenharia, ComÃ©rcio e Montagem in the tiny (1.2 sq km) Rio do Carmo prod lease, Potiguar Basin, following ANP approval in late June. Â Â Proen is currently undergoing a Brazilian bankruptcy process.
Phoenix has taken a 100% stake from Proen Projetos in the Rio do Carmo (100%) production concession.