LONDON, May 27 (Reuters) - West Africa-based oil explorer Afren said it is working on a material acquisition as it looks to expand across Africa, and sees opportunities to buy more assets in Nigeria.
"On the exploration side we're looking at something that's a portfolio that will give us exposure to a number of different geological basins and which we think will be quite material for Afren," Afren's Chief Executive Osman Shahenshah told the Reuters Energy Summit in London.
AOI is up 15 percent today.
Or the reason for the jump could be this. Maybe both.
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