Petroleum Africa
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Thursday, July 11, 2013
Antrim Energy Inc. sold its option to acquire up to a 30% interest in a PSA in Tanzania. The option was for the Pemba-Zanzibar exploration license located offshore and onshore Tanzania.
A cash consideration of $7.5 million was paid to Antrim. The sale was effective July 9.
Proceeds from the sale will improve the company’s future capital expenditure reserves.
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