Africa Oil is acquiring a stake in Toronto-listed peer Eco Oil and Gas. The US$11.1 million deal will see Africa Oil acquire a 19.77% stake in Eco through the purchase of 29.2 million Eco shares at C$0.48 each. The deal gives Africa Oil the right to participate in any future Ecoequity issuances and right of first offer on the farm-out of Eco’s assets. Pillar Four Securities advised Africa Oil in the deal, while Pareto......
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