Clontarf Energy set for €220k Peru deal boost

Clontarf Energy could earn up to €220,000 out of a 3% stake in a Peruvian exploration block following an agreement between Rurelec and Peru Oil and Gas.

The deal will see Rurelec purchase an exploration block in South America when gas is found. Rurelec will buy the block from Peru Oil and Gas Exploration.

Clontarf energy has a 3% royalty on production from any commercial discovery in exploration block 183 capped at 3% of $10m or e220,000.