Canada's Oracle Energy sells interest in Romanian oil, gas concession

Amromco, Oracle's Romanian project joint venture partner, has purchased the company's stake in the concession agreement covering the onshore blocks Nadlac and Bordei Verde Vest, Oracle said in a statement earlier this week.

The agreement has been approved by the National Agency for Mineral Resources of Romania and by the shareholders of Oracle Energy.

"We can now focus on the acquisition of other international projects in which Oracle would have a controlling interest and which would have a bigger impact on the company's future value," Oracle Energy's chairman Nasim Tyab said in the statement.

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