African Petroleum Attracts Interest in its Gambian Blocks

Thursday, September 8, 2016

African Petroleum signed a Letter of Intent (LoI) with an undisclosed international E&P company for the possible acquisition of a stake its licenses offshore The Gambia.

The LoI represents a non-binding commercial proposal regarding the possible acquisition of interests in Licenses A1 and A4 where African Petroleum holds 100% operated working interest in both blocks.

The proposal set forth within the LoI is conditional upon African Petroleum confirming the extension of the exploration periods of both licenses by at least 12 months by the government, and is subject to ongoing due diligence and commercial negotiations.

« GO BACK

You may also like

" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">

First LNG Realized at the Greater Tortue Ahmeyim Project

" alt="United Energy Acquires Western Desert Producer APEX">

United Energy Acquires Western Desert Producer APEX

" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">

Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG

" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">

ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System

" alt="Tullow Highlights 2025 Operational Plans in Ghana">

Tullow Highlights 2025 Operational Plans in Ghana

" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">

TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years

" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">

Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession

" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">

Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market