Gold Oil sells stake in Peru asset

Oil and gas explorer Gold Oil has farmed out an 80 per cent stake in an offshore Peruvian oil platform to Union Oil & Gas Corporation for $6m (£3.9m). “We are delighted to announce this acquisition, which we believe has outstanding potential,” said Guzman Fernandez, chief executive of Union Oil & Gas. “The combination of our experienced in-house technical team and our access to significant capital will enable us to put real momentum behind the next stages of exploration.”