Gas storage and exploration company InfraStrata has entered into a joint venture with Carstone Exploration.
InfraStrata and Carstone will identify early stage opportunities and develop a portfolio of interests. Each company will own 50% of the licence interest in a venture. An application has already been submitted in the UK 28th Seaward Licensing Round.
The joint venture does not include Northern Ireland and southern England, where InfraStrata already has interests.
At 8.88p a share, InfraStrata is valued at £8.84m.
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