Petroleum Africa
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Thursday, March 27, 2014
The partners on Ghana’s Accra Block, Azonto Petroleum, and Afex Oil, have been granted a six-month extension for exploration. The extension takes the partners into September 2014 on the block.
Azonto’s MD, Rob Shepherd said: “During the extension period, we plan to consider bringing in new partners to the joint venture and to that end, initial discussions with a number of potentially interested major industry partners have been encouraging and we are therefore confident that we can obtain a risk and reward exposure to this exciting high impact asset that reflects the size and strategy of the company.”
Shepherd said geological teams were encouraged by results from the initial Starfish-1 exploration well drilled by Ophir Energy earlier this year. He added that the block “offers potentially significant upside potential which in our view is both interesting and compelling.”
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