By Sabela Ojea
ACQUIRER: Parkmead Group PLC, an oil-and-gas company.
TARGET: A royalty associated with its existing interests in the Drenthe IV, Drenthe V and Andel Va licenses in the Netherlands from Vermilion Energy Inc.
PRICE: 565,000 euros ($669,383)
STATUS: Closed.
RATIONALE: The licenses contain the Grolloo, Geesbrug and Brakel onshore gas fields in the Netherlands, the company said. This will increase its net gas production from these wells, doubling the group's effective financial interest from 7.5% to 15%, Parkmead said. It also expects to see extended the producing life of these fields through greater partner alignment.
STOCK MOVE: Shares at 0734 GMT were up 3.30 pence, or 6.6%, at 53.20 pence.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix