MRS Oil shares soar after win in oil block auction
MRS Oil Nigeria has seen its shares jump 12.76 percent since last Thursday when it emerged a winner in the country’s latest oil block auction.
Its share price rose 2.51 percent on Friday and 10 percent on Monday to N198, with its market value increasing to N67.89 billion.
On Thursday, MRS Oil & Gas Company won a deep offshore oil block, PPL 303-DO.
A total of 31 blocks, or petroleum prospecting licences (PPLs), were put on offer by the Nigerian Upstream Petroleum Regulatory Commission – seven in the mini-bid round and 24 for the 2024 licensing round, but bidders won 25.
