09:30 AM EDT, 07/03/2025 (MT Newswires) -- NG Energy International ( GASXF ) on Thursday said it and Maurel & Prom (M&P) have acquired a combined 28% working interest in the Sinu-9 block in Colombia from its minority partners.

NGE, which will acquire a 7% interest, will pay US$26.25 million. The company is also selling a 40% interest in Sinu-9 to M&P, first announced last February. When that sale is completed, NG Energy ( GASXF ) will hold a 39% working interest in Sinu-9, while M&P will hold a 61% working interest and assume operatorship of the block. Official approval to assign the 40% working interest in Sinu-9 to M&P is expected in the third quarter of this year, NG Energy ( GASXF ) said.

The two parties are advancing a six-well exploration and appraisal campaign at Sinu-9, with operations expected to start as early as October.

"This consolidation of the Minority Interests in Sinu-9 represents a pivotal step in strengthening our partnership with Maurel & Prom and advancing our shared vision for the block," said Executive Chairman Brian Paes-Braga. "The upcoming exploration and appraisal campaign underscores our commitment to unlocking the significant potential of Sinu-9, delivering value to our shareholders, and contributing to Colombia's energy landscape."

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