The company said this transaction follows an additional farm-out for $7.5m.
AsherXino previously signed a farm-in agreement for a 40% working interest in the Nigeria offshore concession, upon payment of a required signature bonus of $12.5m to the Nigeria government.
The remaining 60% of the concession is held by the Nigeria local partner in compliance with the country’s local content law.
AsherXino is engaged in the exploration and development of oil and gas concessions in the Gulf of Guinea.
