Petroleum Africa
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Wednesday, October 12, 2011
Further to its statement of September 19 that had Sillenger Exploration Corp. signing a MoU with the government of Benin, the company said that it is looking forward to helping the West African country to attract foreign capital investment to unlock its natural resources wealth.
“Sillenger is very excited that Benin represents a true 'greenfields' opportunity in a resource-rich environment. For resource investors, there are tremendous benefits that come from being an early entrant into a new jurisdiction,” stated John Gillespie, president of Sillenger. “Our partnership strategy is ideally suited for countries such as Benin, as we become the prospect generator for almost every opportunity that our work uncovers, regardless of the type of resource. Sillenger can play an important role in laying the foundation for economic prosperity for the people of Benin.”
Benin is one of a few pure frontier territories left off the coast of West Africa and some industry experts believe it has tremendous potential for oil and gas explorers. According to the Sillenger statement the country has a reserve potential estimated at 5 billion barrels of oil.
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