East Africa veteran Richard Schmitt has secured financing for his deal to buy Afren’s assets in Kenya and Tanzania from Toronto-based Rosseau Asset Management. Schmitt’s Octant Energy Corporation agreed in October 2015 to buy the assets from Afren’s administrators. The agreements for the Tanga Block in Tanzania and Kenya blocks 1 and L17 and L18 have a long stop date of 30 April 2017. Octant has received Kenyan government approval for the transfer of the assets.
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