"Among the planned acquisitions is a part of Canada’s Verenex Energy Inc.’s stake in Libya’s area 47 oil field. The area is estimated to contain reserves of 1.19 billion barrels of oil equivalent.
The firm expects to team up with China National Petroleum Corp. in securing the deal."
VNX ended the week on the TSX at C$7.74, which is likely to be near the acquisition price.
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