President Energy PLC - energy company with assets focused primarily in South America - Inks farm-out deal at its Pirity concession, Paraguay with "substantial Northern Hemisphere state-owned energy company". President to farm out 50% stake in Pirity. President adds: " In return, the farminee will pay 60% of the costs of an exploration well currently scheduled to commence during H1 2022 and will also pay President USD4 million in consideration of the company agreeing to enter into its performance obligations under the agreement," company adds.
Current stock price: 2.13 pence
Year-to-date change: up 18%
By Eric Cunha; ericcunha@alliancenews.com
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