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Thursday, March 26, 2015
Milio E&P Ltd., through its wholly owned subsidiary Milio Exploration & Production (Kenya) Ltd., has commissioned Envoi to assisst it in finding a suitable partner to farm in to its Kenyan blocks. Milio holds a 60% stake in Block L6 and a 91.25% stake in L20 in Kenya’s Lamu basin.
The acreage covers a combined area of 12,000 sq km in the highly prospective but underexplored onshore part of the Lamu Embayment.
The outstanding commitment for the first exploration phase on Block L20 requires the acquisition of 1,000 km of 2D seismic. The Envoi circular said that in order to properly evaluate the most prospective area that straddles Milio’s two blocks, the Kenyan Ministry has approved a reapportionment of the L20 1,000 km seismic commitment so 600 km of the survey will be acquired on L20 and the other 400 km will be acquired on L6. The survey needs to be acquired before September and the commitment period in which a well must be drilled on L6 has been extended to May 2016.
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