Echo Energy PLC on Tuesday said it plans to sell 65% of its 70% working interest in Santa Cruz Sur in Argentina, as the company grappled with over 100% year-on-year inflation in the country.
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Echo Energy has announced the sale of 65% of the Company s 70% of the current Working Interest in Santa Cruz Sur to Selva Maria Oil and Interoil Exploration and Production for a cash consideration of up to £1.725M, an award of an option to purchase a producing Colombian portfolio and the issue of equity in Echo Energy.
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