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Acme Gold Co. Ltd. ( (TSE:BLU) ) just unveiled an update.
BluEnergies has entered into a joint study and application agreement with TotalEnergies’ Liberian upstream subsidiary to advance exploration of its deepwater fan play in the Harper Basin, offshore Liberia, a region within the West Africa Transform Margin that has been a hotspot for successful basin floor fan development. Under a new reconnaissance licence covering three contiguous offshore blocks, the partners will jointly fund an 18‑month work program that includes reprocessing more than 6,000 km² of 3D seismic data and acquiring sea-bottom data to define drillable prospects and potentially secure production sharing contracts, with reconnaissance spending recoverable in any future development and positioning BluEnergies alongside a major partner in a highly prospective frontier basin.
More about Acme Gold Co. Ltd.
BluEnergies Ltd. is a Canadian-based international oil and gas exploration and development company focused on offshore operations in West Africa, where it targets deepwater hydrocarbon prospects such as basin floor fan plays.
Average Trading Volume: 17,823
Technical Sentiment Signal: Buy
Current Market Cap: C$31.4M
For a thorough assessment of BLU stock, go to TipRanks’ Stock Analysis page.