By Jaime Llinares Taboada
Shares in San Leon Vitality PLC rose Thursday morning after it agreed to accumulate an additional curiosity within the Various Crude Oil Evacuation System mission in Nigeria.
The oil-and-gas group, which at the moment holds a ten% shareholding within the mission’s holding firm, mentioned it would make investments $2 million for a 1.32% curiosity. As well as, San Leon has acquired an choice to purchase an additional 4.30% curiosity for $6.5 million, which might carry its stake to fifteen.62%.
The ACOES mission is being constructed to supply a devoted oil export route from the OML 18 fields. It contains a brand new pipeline, a floating storage and an offloading vessel.
Shares in San Leon at 0756 GMT have been up 12% at 42.00 pence.
Write to Jaime Llinares Taboada at firstname.lastname@example.org; @JaimeLlinaresT