Global Energy Development shares soar after Llanos Basin sale

5th Dec 2014 08:54

Oil explorer Global Energy Development has completed the sale of its rights and obligations for the Llanos Basin contract area in Colombia.The Latin America-focused group has sold its subsidiary Colombia Energy Development Capital to a subsidiary of oil and gas exploration firm Platino Energy in a deal worth $50m.The firm added it will decide how to use the remaining net proceeds following the closing of the deal.Global Energy shares soared 21.84% to 53.00p at 09:15 on Friday.

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