Madagascar Oil reported that it has been working closely with Jefferies International, its strategic advisor, to consider its strategic options regarding the sourcing of a strategic partner for the Tsimiroro development. A technical data-room has been opened with the view to attracting strategic partners to assist the Company to fund and deliver the initial phases […]

Madagascar Oil has appointed Jefferies International as its strategic advisor to assist in the process of identifying and securing a partner who will work with it on the development and funding of the Tsimiroro heavy oil field in Madagascar. The Tsimiroro field saw its development plan approved by the government of Madagascar in mid-April. While […]

Madagascar Oil saw cumulative oil production reach 173,351 barrels from a cumulative steam injection of 910,017 BWE as of the end of February. As of February 28 there were 90,780 barrels in storage at the SFP available for sale to the domestic Madagascar market.  The company is working jointly with state utilities supplier, Jirama, to […]