LONDON (Alliance News) - Nu-Oil and Gas PLC said Tuesday that its unit Energi Oil Inc is continuing discussions with PVF Energy Services Inc regarding a potential farm-in in the Garden Hill field in Canada.
"Discussions continue between the parties in respect of entering into a definitive farm-in agreement, which will fund the next phase of development and optimise the operational and ownership structure for the longer-term success of the project," the company said.
Nu-Oil shares were trading down 3.4% at 0.97 pence each.
