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SL Exploration Enters into Exclusive Negotiations in Sierra Leone

Source: www.gulfoilandgas.com 7/11/2012, Location: Africa

SL Exploration Investment & Management GmbH is pleased to announce that it has entered into exclusive negotiations with the Government of The Republic of Sierra Leone for two oil blocks (the “Blocks”). The Blocks under negotiation are Block SL-9A-10 and Block SL-9B-10.

The Blocks are located between 105 and 145 km off the coast of Sierra Leone and have a total size of 4277 sq km. The expected water depth is between 3700 and 3900 m. The Company looks forward to further discussions with the Government of The Republic of Sierra Leone.

SL Exploration has been selected in an international tender for the Hydrocarbon Exploration and Production in The Republic of Sierra Leone in connection with the 3rd License Round in an application made on March 30, 2012.

Dr. Olaf Grabowski, SL Exploration’s Managing Director said:
“We are pleased to announce that SL Exploration has been selected to enter into negotiations with the Government of The Republic of Sierra Leone for the conclusion of Petroleum License Agreements for the Blocks. This represents an exciting opportunity to participate in one of Africa’s lesser explored resource basins and to contribute to Sierra Leone’s economic growth. Our preliminary development plan for the offshore prospects forms part of our integrated strategy to participate in natural resources and infrastructure development projects in the region. With our partners we are ready to start the exploration of the Blocks and to implement the investment proposal made in connection with our application.”

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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 


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