Greenhawk Resources Inc (TSE:GRHK) has released an update.
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Greenhawk Resources Inc. has invested C$2.7 million in a debenture with CG International Petroleum, securing an option to acquire a significant stake in up to twelve oil and gas wells in Chad’s Doba Basin. This strategic move could yield Greenhawk 50% of the cash flow from four production wells, with the potential to double that interest upon further investment and fulfilling additional terms. The partnership also allows for corporate influence as CGIP will nominate three directors to Greenhawk’s board.
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