Continental Focus, International Reach

Madagascar Oil Appoints Jefferies to Aid in Partner Hunt

Thursday, June 25, 2015

Madagascar Oil has appointed Jefferies International as its strategic advisor to assist in the process of identifying and securing a partner who will work with it on the development and funding of the Tsimiroro heavy oil field in Madagascar.

The Tsimiroro field saw its development plan approved by the government of Madagascar in mid-April.

While the company has been in discussions with potential partners, Madagascar Oil is looking to gain access to a wider pool of potential partners.

Jeffries is also expected to provide strategic advice which will help secure the optimal partner(s) for the company going forward.  The company is confident of a successful conclusion to this process before the end of 2015 and will provide further updates in due course.


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