Caracal Energy Inc. has completed a previously disclosed Farm-in Agreement with GlencoreXstrata plc for the 25% farm-in for the development of the Badila and Mangara oil fields in Chad.

Under the terms of the Agreement, Glencore will earn a 25% working interest in the Badila and Mangara Exclusive Exploitation Authorizations (the "EXAs") with Caracal Energy retaining a 50% working interest.

Under the terms of a separate agreement between Glencore and Société des Hydrocarbures du Tchad (SHT), Glencore has acquired a further 10% working interest in the EXAs, with SHT retaining the remaining 15% working interest.

Tags: Caracal Energy Inc.