03:17 AM EDT, 08/05/2026 (MT Newswires) -- Electric Guitar plc (ELEG.L) agreed to revised terms for a potential acquisition of certain oil and gas assets in the Western Anadarko Basin of western Oklahoma, US, from Vega Upstream JV. Vega Upstream is a joint venture between Covenant Oil Group Corp. and energy investment group ADM Energy (ADME.L), according to a Wednesday filing. The proposed acquisition price is $6.9 million, subject to deductions for income generated before completion. The option, now exercisable through Oct. 31, covers West Thomas Field Services and 160 acres of land housing its midstream assets. The data and digital marketing company may pay up to $1 million in shares and assume a secured five-year loan of up to $5 million, potentially reducing the cash payment to less than $1 million. Completion is targeted by Nov. 30 and would constitute a reverse takeover under AIM rules. Electric Guitar's shares remain suspended from trading on the London bourse.

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