Universal Extends First Phase on PEL 2815

Source: www.gulfoilandgas.com 8/16/2010, Location: Africa

Universal Power Corp announced the Ministry of Mines and Energy of the Republic of Namibia (MME) has granted an extension for the first phase of the Company’s work program on Petroleum Exploration License ("PEL") 2815 (constituting offshore Blocks 2815, 2816, and 2915). The extension is for a one-year period and expires September 22, 2011.

"Since taking over operatorship of PEL 2815 late last year, we have made significant progress in confirming the prospectivity of the three blocks within the license area,” said Mr. Gabriel Ollivier, CEO of Universal Power Corp. “We presented our most recent technical findings to the MME during our last two Technical Advisory Committee ("TAC") meetings, and we will now proceed with the next phase of investigation, including seismic acquisition and other regional and lease-specific work. We remain committed in working with our Namibian partners in accelerating the discovery of crude oil reserves in the country, thereby fostering regional energy independence and strong and sustainable economic growth. By granting the extension to our work program, the MME continues to show confidence in our abilities and overriding objective of growing the Company alongside Namibia’s emerging oil and gas sector.”

As part of the extended first phase work program, Universal plans to proceed with technical evaluation on PEL 2815, consisting of existing 2D seismic interpretation, construction of a 3D compositional petroleum model and mapping of prospects, leading to defining the specific area in which to acquire a new 3D seismic survey. Once mapped, Universal will commission an independent third-party resource evaluation on the three blocks.


Morocco >>  8/9/2022 - Sound Energy, the transition energy company, is pleased to provide an update on the Phase 2 development financing of its Tendrara Production Concessio...
United Kingdom >>  8/8/2022 - The Operator of PEDL241, Egdon Resources U.K. Limited, has filed an appeal on behalf of the Joint Venture partnership against Lincolnshire County Coun...

Colombia >>  7/29/2022 - Petrobras confirms the discovery of natural gas accumulation in the Uchuva-1 exploratory well, drilled in deep waters of Colombia, 32 kilometers off t...
Ireland >>  7/29/2022 - Europa Oil & Gas, the AIM traded UK, Ireland and Morocco focused oil and gas exploration, development, and production company, has announced that the ...

United Arab Emirates >>  7/29/2022 - Abu Dhabi National Oil Company (ADNOC) announced today a second discovery of natural gas resources in the first exploration well in Abu Dhabi’s Offsho...
Gambia >>  7/28/2022 - FAR Limited an independent, Africa focused, oil & gas exploration company, provides its quarterly activities report for the quarter ended 30 June 2022...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.