PetroNor E&P Limited has acquired the 32% cost sharing interest and 24% profit share interest of New Age (Africa Global Energy), Ltd. in OML 113. The acquisition was made for an upfront consideration of USD six million, with a contingent consideration of up to USD 20 million based on future gas production volumes. This acquisition is PetroNor's second into the field, following its acquisition of Panoro Energy ASA's subsidiaries in 2022. PetroNor's interim CEO, Jen Pace, stated that the acquisition aligns with the company's commitment to expanding its portfolio and demonstrates shareholder value. Stefan Olivier, CEO of ADM Energy, welcomed the acquisition and expressed excitement about the potential value of the gas resource in the Aje field, which offers a cleaner source of energy for power generation and industrial use compared to current alternatives. ADM Energy holds a 9.2% profit interest in the Aje field in OML 113, which covers an area of 835km2 offshore Nigeria.