Brandenburg Energy Corp has signed a Memorandum of Understanding ("MOU") to acquire a 60% interest in the PSAs (Production Sharing Agreements) for four oil & gas blocks in the Republic of Niger. These blocks are known as Dibella 1 (20,590 km²), Dibella 2 (28,710 km²), Dallol (41,080 km²) and Mandaram (21,050 km²).
A syndicate led by Labana Petroleum Ltd. (Nigeria) has recently been awarded PSAs covering these blocks and under the terms set out in the MOU, Brandenburg is to acquire a 60% interest by assuming 100% of the PSA program costs and carrying the PSA holder through to at least the first well and or in conformity with required government approvals.
Finalizing a definitive agreement contemplates a 45-day due diligence period, negotiating and acceptance of the first two years of the PSAs' work program by the Ministry of Energy and Petroleum, payment of farm-in fees and expenses, as well as approval by the Government of Niger.
Karl Antonius, CEO of Brandenburg stated, "We are delighted to have secured this opportunity to earn a majority interest in these blocks, three of which share a similar geology and are relatively close, to CNPC's current production in the Agadem block. We intend to immediately begin our work to fully evaluate these assets and start discussions with the Ministry on the work programs. Additionally, Brandenburg remains actively assessing and pursuing a number of other hydrocarbon exploration opportunities throughout Africa."
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West Africa Projects 
