Warrego Energy Limited (ASX: WGO) has agreed to acquire 50.1% indirect interest in El Romeral. It is an integrated power station and gas production located in Southern Spain.
- As per the CEO of the company, this is a low risk strategy to add reserves to balance sheet and at the same time near term cash flows;
- It is a part of Warrego’s strategy to become a strong upstream player focussing on Australia and Spain.
At AEST 01:08PM, the stock was trading at $0.195 per share, no change from its previous close.