Global Energy Development shares soar after Llanos Basin sale
Oil explorer Global Energy Development has completed the sale of its rights and obligations for the Llanos Basin contract area in Colombia.
FTSE AIM All-Share
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15:45 15/11/24
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16:35 01/07/19
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Oil & Gas Producers
8,043.72
15:45 15/11/24
1.32%
105.17
The Latin America-focused group has sold its subsidiary Colombia Energy Development Capital to a subsidiary of oil and gas exploration firm Platino Energy in a deal worth $50m.
The firm added it will decide how to use the remaining net proceeds following the closing of the deal.
Global Energy shares soared 21.84% to 53.00p at 09:15 on Friday.