New Stratus Energy (TSE:NSE) has released an update.
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New Stratus Energy Inc. has acquired a 49% stake in the Mexican oil and gas company, Operaciones Petroleras Soledad, with an option to buy an additional 41%. This strategic acquisition, costing US$2 million, grants New Stratus economic interests in the Soledad Block, which has proven reserves of 43.3 million barrels of oil equivalent and current production of approximately 1,430 barrels per day. The company has also committed to funding capital expenditure requirements for the project, capping its investment at about US$12.5 million.
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