The investment outfit has taken a 49% stake in Kenya-based Ardan Risk & Support Services for a $4 million fee.
Channel Islands-based Africa Oilfield also has a 180-day exclusivity agreement to consider buying out the remaining shares in the privately-held, Nairobi-headquartered player.
Founded in 2008 by chief executive Michael Pelham, Ardan already has operations in nascent oil patches Kenya, Ethiopia and Mauritius.
AIM-quoted
