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Adamantine Energy Signs a PSC for Kenya Block 11B

Source: www.gulfoilandgas.com 6/1/2012, Location: Africa

Adamantine, the privately owned East Africa focused oil and gas exploration company, announces that it has signed a PSC with the Republic of Kenya for the block 11B. Under the PSC, the Company will undertake a 3-phased work programme starting in 2012.

Block 11B covers an area of approximately 14,200 square kilometres covering the Loeli, Lotikipi, Gatome and South Gatome basins. The basins are to the north of the Lokichar Basin where a significant oil discovery has been made in recent months with the Ngamia-1 well. Analysis of the existing gravity and magnetics and seismic datasets suggest the basins in block 11B are of similar form to Lokichar and analogous geological plays and petroleum system elements are expected.

Chris Matchette-Downes, Chief Executive of Adamantine Energy Limited, commenting on the PSC said: “We are delighted to acquire our first asset in East Africa. 11B is considered to be highly prospective and our intention is to move forward swiftly with our work programme commitments.”

For more information about related Opportunities and Key Players visit East Africa Projects

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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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