Genel Energy increases Chia Surkh stake to 60 pct

Genel Energy (LON:GENL) today closed a deal to take control of the Chia Surkh block in the Kurdistan region of northern Iraq. It has bought out venture partner Forbes & Manhattan (a subsidiary of Longford Energy) paying US$68 million for a 40 per cent stake.

Jamie Ashcroft reports for Proactive Investors:

Genel Energy (LON:GENL) today closed a deal to take control of the Chia Surkh block in the Kurdistan region of northern Iraq.

It has bought out venture partner Forbes & Manhattan (a subsidiary of Longford Energy) paying US$68 million for a 40 per cent stake.