Wood buys back Madagascar Block 1101 stake


Djibouti player Oyster Oil and Gas has agreed a cash and shares deal to buy Candax Energy’s 10% interest in Afren’s onshore Block 1101. Oyster chief executive Michael Wood, who founded Candax in 2004, said: “The Oyster team has a considerable understanding of Block 1101, having been responsible for the original signing of the production-sharing contract with the government of Madagascar in 2006.”