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Clontarf and Petrel Offered Offshore Tano Basin Block

Source: www.gulfoilandgas.com 6/22/2016, Location: Africa

The directors of Clontarf wish to advise shareholders that Clontarf and its partners have been informed by the Ghanaian Ministry of Petroleum (the "Ministry") that the Ministry is available for negotiations on Clontarf's proposals for amended coordinates of the Tano Basin block which we originally applied for in 2008.

The Ministry has reviewed our entire proposal and accordingly advised us that the Block named "Lukoil B" is available for negotiations. We will confirm our interest and follow up on this prospective acreage. Further announcements will be made as soon as practicable.

This new acreage is an offshore block in deeper water than the Tano 2A block which has been the subject of ongoing discussions for many years. Our Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 60% Clontarf, 30% by Petrel Resources and 10% local Ghana interests.

For more information about related Opportunities and Key Players visit West Africa Projects

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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 

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