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Tue, 20th Nov 2018 12:01
LONDON (Alliance News) - Oil and gas company Mayan Energy Ltd said Tuesday it has sold its 3.29% interest in Georgia-focused explorer Block Energy PLC, netting GBP203,213.
Proceeds from the sale will be used by Mayan for developing its existing portfolio of onshore US oil and gas assets, once the current independent review has been finalised, and for working capital purposes.
Shares in Mayan Energy were trading 13% lower at 0.20 pence each. Block Energy shares were up 9.4% at 2.90p.
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