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Africa Hydrocarbons Reports on Permit Extension

Source: www.gulfoilandgas.com 7/23/2014, Location: Africa

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Africa Hydrocarbons Inc reports that its application for a second one-year extension of the Bouhajla Permit is still before the relevant government authorities, as first reported in its press release dated May 29, 2014. The adoption of the newly created constitution in January of this year, and in particular the interpretation of Article 13, has resulted in delays for a number of companies with respect to issues related to the administration of rights across the natural resources sector.

John Nelson, CEO of the Company states "The Operator has just returned from meetings in Tunis and is confident that a concerted effort is being made to resolve the administrative complexity that has been created, so that companies can continue with their exploration programs. Additional news will be released once we receive notice regarding our extension application, and upon approval, initiate the re-completion of the BHN-1 well that also had to be put on hold pending final government approval of the permit extension."

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