Gulf Oil and Gas accountACCOUNT

Addax Petroleum Announces Acquisition in Gabon

Source: www.gulfoilandgas.com 12/12/2008, Location: Africa

Share |
Addax Petroleum Corporation announced that it has acquired an additional 18.75 per cent interest in the Gryphon Marin license area bringing its total interest in the license area to 68.75 per cent, prior to third party back-in options. Addax Petroleum is the operator of the Gryphon Marin license area.

Commenting , Addax Petroleum’s President and Chief Executive Officer, Jean Claude Gandur, said: “We are pleased to build on our position in this promising and vast license area. This additional interest in the Gryphon Marin license area enhances our first-class exploration portfolio in Gabon and demonstrates our commitment to strategic expansion in our core operating regions. We plan to commence our exploration activities in Gryphon Marin with the spudding of the Ajomba North and Pompano North prospect wells during the first half of 2009.”

The Gryphon Marin license area covers a gross area of approximately 2,409,200 acres (9,750 km2) and lies immediately west of the Iris Marin and Ibekelia license areas, and immediately north of the Corporation’s Etame Marin license, offshore Gabon. Addax Petroleum holds a 51.33 per cent interest in the Iris Marin license area and a 31.36 per cent interest in the Etame Marin license area. The Gryphon Marin license area is in an exploration period ending in November 2009 and carries a commitment to drill two wells. Addax Petroleum has budgeted to drill the Ajomba North and Pompano North prospects in the Gryphon Marin license area in the first half of 2009.

Acquisitions and Divestitures News in Gabon >>

United States >>  12/8/2017 - CMA CGM Group, a world leader in maritime transport, announces that it has completed the acquisition of MERCOSUL Line. MERCOSUL Line is one of the lea...
Malaysia >>  12/6/2017 - Hibiscus Petroleum, Malaysia’s first listed independent oil and gas exploration and production company, announced that it has received unconditional c...

Russia >>  12/6/2017 - NOVATEK has announced the acquisition of South-Khadyryakhinskoye and Eurotek from AR Oil & Gas, a joint venture of Neftegazholding and Repsol. ...
Australia >>  12/5/2017 - AWE has announced that it has received notice from China Energy Reserve and Chemical Group Australia (CERCG) that it had formally withdrawn its condit...

Poland >>  12/5/2017 - San Leon Energy, the AIM listed company focused on oil and gas development and appraisal in Africa and Europe, announces that it has informed the Mini...
Mauritania >>  12/4/2017 - ExxonMobil through its wholly owned affiliate, ExxonMobil Exploration and Production Mauritania Deepwater Ltd., has signed production sharing contract...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gabon Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Gabon >>

More News

 

Oil & Gas Companies in Gabon >>


Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.