Cap Energy Completes Acquisition of Guinea Bissau Blocks

Cap Energy Completes Acquisition of Guinea Bissau Blocks

Cap Energy Limited, a company focused on upstream oil and gas exploration in sub-Saharan Africa, has completed its acquisition of a majority shareholding in Sphere Petroleum Corporation.

Sphere BVI holds interests in two offshore Guinea Bissau oil and gas exploration licences. The additional consideration of USD0.5 million payable on completion has been satisfied by CAP in cash from its existing resources.

[mappress]
April 8, 2013
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