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Wednesday, August 21, 2013
Raven Resources Group saw the ratification of its exploration license over Block 6, onshore Mali. The block is held through Raven’s subsidiary Corvus Resources Management Ltd. The formal handover ceremony took place in Bamako on August 16.
The agreement between Raven Resources Group and the Ministry of Mines and Energy allows Raven to explore for hydrocarbons in the prolific Taoudeni basin. The company plans to invest more than $50 million on its exploration campaign over the next seven years.
Minister of Mines and Energy, Mamadou Diarra Igor said, “This is a critical time for Mali in more ways than one and these positive developments herald a new beginning-a course correction for the people of Mali who will definitely benefit from this sort of investment in the economy.”
Raven’s director for Business Development, Adeniyi Makanjuola commented, “We are extremely excited about the opportunity to prospect in one of the last frontiers for onshore oil and gas exploration worldwide. We see a great deal of potential and are committed to our efforts in Mali. We have assembled a strong team and we are confident that we will be able to achieve our set goals with the backing of our investors.”
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