Stratic is planning to sell its licence to explore the 7,692-square-kilometre Kerkouane permit, off the northeast coast, to an unnamed company.

The sale is part of the rationalisation of Stratic’s assets following its acquisition of another London-listed firm, Grove Energy, for $102m in the second quarter of 2007.

Grove Energy won the licence to operate the Kerkouane permit in 2000 under a production sharing contract with state energy company Entreprise Tunisienne d’Activites Petrolieres.