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IN BRIEF: Advance Energy completes purchase of 50% stake in Carnarvon

Mon, 19th Apr 2021 12:15

Advance Energy PLC - upstream oil and gas company - Completes acquisition of 50% interest in Carnarvon Petroleum Timor Unipessosal Lda in the form of a reverse takeover. Carnarvon Petroleum Timor holds a 100% working interest and is the contractor for the Buffalo PSC, offshore Timor-Leste. Says acquisition was funded with the net proceeds of a GBP21.8 million share placing held earlier this month.

By Zoe Wickens; zoewickens@alliancenews.com

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