The company will farm out to Northdown a 45% working interest in its four onshore license blocks – TQ26, TQ36, TQ46 and TQ56 – located in the Weald basin.
Alamo will retain a 45% working interest in the blocks, while Aimwell Energy will retain a 10% interest.
The UK Department of Energy and Climate Change has approved the partnership agreement.
Alamo Energy is focused on the exploration, development and production of onshore oil and gas reserves in the UK and US.
