Etu Energias has signed a sale and purchase agreement (SPA) to acquire a 20% interest in Block 14 and a 10% interest in Block 14K, offshore Angola from Azule Energy. Chariot has provided US$12m in cash to finance the acquisition and cover other costs involved with the transaction (c.US$3m) in order to be economically exposed to long-term future cash flows equivalent to current production of c4,000boepd. This is an innovative deal for Chariot, enabling them to gain access to material oil producti ....
