Clontarf Reaches Agreement with Ghana

Friday, July 18, 2014

Clontarf Energy has reached an agreement with Ghanaian authorities which clarifies the coordinates of the signed petroleum agreement on a license in the Tano area of the country. It was agreed that additional, contiguous acreage would be added to preserve the size of the block. The agreement is between Pan Andean Resources ( 60% Clontarf, 30% Petrel, and 10% local interests), GNPC, and the government of Ghana.  

All parties agreed to seek to expedite the ratification process which requires Cabinet and Parliamentary approval. As a consequence of this, Pan Andean Resources has discontinued its High Court proceedings with rights to reapply.

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