Australian smallcap to develop North Sea assets

ASX-listed Ansila Energy has struck a deal to merge with Hartshead Resources, giving it the rights to five blocks in the UK North Sea with more than 354 billion cubic feet of gas.

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Ansila already owned just over 20% of Hartshead but will acquire the remaining 78.4% of the company to take control of its five assets in the North Sea via an all-scrip agreement.