Gulf Oil and Gas accountACCOUNT

Africa Oil PSC in Somalia Block

Source: www.gulfoilandgas.com 5/28/2009, Location: Africa

Share |
Africa Oil Corp. is pleased to announce the signing of a farmout letter of intent with Raytec Metals Corp. ("Raytec") for their entry into the production sharing contract in Puntland, Somalia.

In Puntland, Somalia, Africa Oil will transfer a 25% (twenty-five percent) license interest to Raytec in the Nogal and Dharoor Petroleum Production Sharing Agreements.

Raytec,will pay a disproportionate share of costs associated with the planned work programs to be carried out in 2009 and 2010.

This farmout transaction is subject to government, exchange, board and partner approvals if required.

Acquisitions and Divestitures News in Somalia >>

Australia >>  5/25/2017 - Buru Energy has entered into a transformational transaction with its joint venture partners Diamond Resources (Fitzroy) (DRF) and Diamond Resources (C...
United Kingdom >>  5/24/2017 - In acquiring the DONG Oil & Gas business, the deal positions INEOS as a Top 10 company and the biggest private enterprise operating in the North Sea. ...

Indonesia >>  5/23/2017 - AziPac, the Seacrest Capital Group-backed E&P company focused on South East Asia, has announced that Azimuth Indonesia, a wholly owned subsidiary of A...
United States >>  5/23/2017 - Mosman Oil and Gas Limited, the oil exploration, development and production company, announces its wholly owned US subsidiary Mosman Texas LLC has exe...

Brazil >>  5/22/2017 - Petroleo Brasileiro S.A, Petrobras informs that it has started the disclosure phase of the Teaser regarding the transfer of Petrobras’ stake in the Ju...
Kenya >>  5/22/2017 - Africa Oil Corp. (Africa Oil, AOC) is pleased to report that further to the previously announced farmout agreement between Africa Oil and Maersk Olie ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Somalia Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Somalia >>


Related Links

AO BJ BW CD CG CI CM DJ DZ EG EH ET GA GF GH GM GN GQ GW KE LR LY MA MG ML MR MW MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.