The action of the French group Maurel & Prom took off on the Paris coast on Wednesday. It jumped 19.5% at the close, to 4.82 euros. It will more than double its oil production.

Maurel & Prom (M&P), which capitalized 812 million euros before this announcement (and nearly 1 billion after), will pay 730 million dollars (669 million euros) for this acquisition. Finalization is expected no later than the first quarter of 2024. M&P is becoming a key player in Gabon. The operation will be financed by an increase in the M&P bank loan of 183 million dollars, which will reach a total of 400 million, and by a one-year acquisition loan, of a maximum of 750 million dollars, at a SOFR +2% rate, “on favorable terms thanks to the support of Pertamina

The group's production in the first half of 2023 will increase from 27,406 barrels of oil equivalent per day to 67,800 barrels, including 56,500 in Gabon.