Pansoinco is set to take over operatorship of the assets, as well as assume all operating and development costs, from 31 January 2017 under a heads of terms signed between the pair.
The Italian company will gain a 65% stake in Leni Investments CPS, the holding company for Compania Petrolífera de Sedano that holds the assets including the producing Ayoluengo field and Hontomin discovery, with LGO retaining the remaining 35%.
Pansoinco
