Contango Oil & Gas (MCF -3.4%) gains after entering into an agreement to form Exaro Energy...

|About: Contango Oil and Gas Company (MCF)|By:, SA News Editor

Contango Oil & Gas (MCF -3.4%) gains after entering into an agreement to form Exaro Energy III LLC. Under the agreement, the company will invest up to $82.5M in Exaro over the next five years, giving it approximately 45% interest in Exaro.