06.11.2018 kl 16:59 5649
John Hamilton, Chief Executive Officer Panoro said: “Following the completion of the DNO Tunisia AS transaction this summer, we are extremely pleased to announce our second acquisition in Tunisia with the purchase of OMV Tunisia Upstream GmbH from OMV. The acquired company holds high quality producing oil concessions with low decline rates and low breakeven levels, and generate strong cash flow. The five oil producing concessions, Guebiba/El Hajib, Rhemoura, El Ain, Cercina, and Cercina South perfectly complement our existing business in Tunisia, specifically the adjacent Sfax Offshore Exploration permit. This accretive acquisition is in line with our announced strategy to expand further in Tunisia and highlights our determination to continue building a leading international independent exploration and production company focused on Africa”.
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