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Brenham Receives an Invitation to Negotiate in Equatorial Guinea

Source: www.gulfoilandgas.com 1/4/2012, Location: Africa

Brenham Oil & Gas Corp., (Brenham), a subsidiary of American International Industries, Inc., (American), announced that it received letters of invitation from the Government of Equatorial Guinea in West Africa to propose and negotiate the terms and conditions for multiple deepwater exploration blocks. Four other companies were also identified in the letters as participating in the proposal and negotiations together with Brenham. The Equatorial Guinea area was highlighted by Brenhamís Rog Hardy, as part of the Companyís ongoing review of seismic and well data in Sub-Saharan Africa.

Mr. Hardy, Brenham Vice President Technology and geologist, stated, "In a review of available data, we have identified a trend with attributes in Equatorial Guineaís offshore waters similar to those of recent significant discoveries and producing fields in Equatorial Guinea."

Scott Gaille, Brenhamís President, stated, "The discussions with the Government of Equatorial Guinea represent Brenhamís ongoing technical and commercial efforts to identify untapped exploration potential in Africa by comparing data from successful discoveries to data from unexplored areas."

Mr. Gaille further stated, "Brenhamís business model is to initially acquire oil development and production assets in the U.S. and then to follow these with a portfolio of international exploration prospects. While there can be no assurance that Brenham will be able to successfully conclude the concession acquisitions, our work in Equatorial Guinea reflects Brenhamís continuing efforts to enter into African exploration, development and production."

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  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 


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