Placid Oil Acquires 60% Stake in Omani Concession 

Placid Oil Company (Oman) - a subsidiary of the Dallas-based Hunt Oil Company - has acquired a 60% equity stake in an offshore concession in northeast Oman awarded originally on 18 March this year to a group comprising North South Resources, International Petroleum and Peninsula Petroleum. Placid Oil's new acquisition was ratified by a Royal Decree issued in Muscat on 8 December.

The concession area covers two blocks - the...