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Junior market energy firm Mediterranean Oil & Gas (MOG:AIM) has acquired JKX Oil & Gas’ (JKX) acreage in Italy. The e2 million deal will add onshore natural gas assets, including production, to its portfolio.

‘This represents an attractive opportunity to increase our gas production in the short term and pursue attractive additional gas resources from a mature lead and a prospect,’ says chief executive Sergio Morandi. The firm recently spudded a well in Tunisia and is due to begin drilling shortly on its key Ombrina Mare discovery.

Shares says: The recent share price slump could be a buying opportunity. TS

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