Gondwana in talks over Ghana block

  • Business & Finance

Gondwana Oil Corp. has announced that after review of its application on the Offshore Cape Three Points South Block, Ghana’s Ministry of Energy and Petroleum has invited Gondwana’s 70% owned Ghanaian subsidiary, Miura Petroleum Limited, to negotiate exclusively on the Block.

Gondwana to negotiate Ghana block

The Block is surrounded by 20 discoveries, including the world-class 2 billion barrel Jubilee light-oil field, currently producing in excess of 110,000 barrels of oil per day.

Since 2010, exploration and development drilling offshore Ghana has achieved an unprecedented 72% exploration success rate, and 63% commercial success rate.

“Gondwana has been working diligently towards this goal and believes that the Offshore Cape Three Points South Block, in the Tano Basin only 30kms from Jubilee, is one of the most important and prospective blocks in the prolific West African Transform Margin, which has been home to great exploration success and attracted multiple energy majors.

The company and its team, as well as its local partners, look forward to commencing exclusive negotiations in Ghana,” the company said in a statement.

 

[mappress]
Press Release, March 19, 2014

 

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