Junior explorer Pura Vida Energy has picked up exploration acreage offshore Madagascar, which managing director Damon Neaves expects to emerge as an extension of the red-hot oil and gas province that has developed in east Africa.

Pura Vida has agreed to take a 50 per cent stake in the Ambilobe production sharing contract held by London-listed Sterling Energy off the island’s north-west coast. News of the deal, the explorer’s third exploration venture in Africa, came as Pura Vida completed a deal worth up to $US230 million to bring Freeport-McMoRan into its exploration venture offshore Morocco.