London-listed company Egdon Resources has increased its interest in PEDL201 in the UK’s onshore East Midlands area.
Egdon revealed Wednesday it had struck a deal to acquire an additional 12.5% interest in the licence from Corfe Energy for an all share consideration of £50,000 ($62,410).
It added the number of consideration shares would be calculated based on the average closing mid-price for the five days prior to the day of completion of the deal, which is still subject to regulatory approval.
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