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Advance Energy plc: Buffalo Licence expiry and AIM Rule 15 Cash ShellHome / Client News / Advance Energy plc: Buffalo Licence expiry and AIM Rule 15 Cash Shell
Advance Energy (AIM:ADV), the energy company seeking growth through acquisition or farm-in to non-operated interests in discovered upstream projects, announces that Carnarvon Petroleum Timor, Lda has elected not to enter the next period of the TL-SO-T 19-14 Production Sharing Contract (the “Buffalo Licence”).
As a consequence the Buffalo Licence will lapse on 27 May 2022 and the Company will become an AIM Rule 15 cash shell (“AIM Rule 15 Cash Shell”) on that date.
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