Gulf Oil and Gas accountACCOUNT

EnerGulf Provides Update on Nigeria Block 252

Source: www.gulfoilandgas.com 12/15/2005, Location: Africa

With respect to Nigeria Oil Prospecting License (“OPL”) 252 (the “block”), the EnerGulf/Derock JV has been granted an extension until January 30, 2006 to pay the required signature bonus. EnerGulf has licensed the Veritas 3D seismic data covering the block, and as technical partner of the EnerGulf/Derock JV, is conducting a continuing evaluation, which is developing estimates as to the hydrocarbon potential of the block. EnerGulf is currently engaged in ongoing discussions with various parties, including qualified potential industry partners, regarding the future of the block. Developments will be made public as appropriate.

Commenting on current events, Jeff Greenblum, Chairman of EnerGulf’s Board of Directors said “We are in discussions with various parties regarding the future operations and financial obligations that are associated with signing OPL 252’s Production Sharing Contract (PSC). Progress has been made to date and these discussions are ongoing. However, an opportunity of this size and nature, presents complex issues and no assurances can be made at this time regarding the signing of the PSC.“

Acquisitions and Divestitures News in Nigeria >>

Norway >>  8/17/2019 - Pandion Energy AS has entered into an agreement with ConocoPhillips Skandinavia AS (ConocoPhillips) to acquire a 20 percent interest in PL 891, contai...
Russia >>  7/22/2019 - PAO NOVATEK announced the closing of the sale of participation interests in Arctic LNG 2 Project (“Project”) to wholly owned subsidiary of China Nati...

Brazil >>  7/19/2019 - Petrobras informs that the company Trident Energy presented the best final offer in a competitive process for the acquisition of the totality of the c...
Colombia >>  7/19/2019 - Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, announces that following the receipt of interest in the Compan...

Russia >>  7/19/2019 - Gazprom Neft and SIBUR have consolidated 100 percent of the charter capital in the Poliom LLC polypropylene plant in Omsk, with the Gazprom Neft—SIBUR...
Brazil >>  7/18/2019 - Ecopetrol S.A. reports that the Ministry of Mines and Energy of Brazil has authorized the transfer of a 10% stake in the Saturno block, located in the...

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 


Nigeria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

Oil & Gas Projects in Nigeria >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG 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. - Terms of Service - Privacy Policy.