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2014-03-19 20:09:00

GONDWANA OIL SELECTED

GONDWANA OIL SELECTED

OV. Gondwana Oil Corp. (CSE: GO) is very pleased to announce that after review of its application on the Offshore Cape Three Points South Block, Ghana's Ministry of Energy and Petroleum has invited Gondwana's 70% owned Ghanaian subsidiary, Miura Petroleum Limited, to negotiate exclusively on the Block.

The Block is surrounded by 20 discoveries, including the world-class 2 billion barrel Jubilee light-oil field, currently producing in excess of 110,000 barrels of oil per day.

Since 2010, exploration and development drilling offshore Ghana has achieved an unprecedented 72% exploration success rate, and 63% commercial success rate.

Gondwana has been working diligently towards this goal and believes that the Offshore Cape Three Points South Block, in the Tano Basin only 30kms from Jubilee, is one of the most important and prospective blocks in the prolific West African Transform Margin, which has been home to great exploration success and attracted multiple energy majors.

The company and its strong and experienced technical team, as well as its local partners, look forward to rapidly commencing exclusive negotiations in Ghana.

Tags: GONDWANA, GHANA, OIL

Chronicle:

GONDWANA OIL SELECTED
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

GONDWANA OIL SELECTED
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

GONDWANA OIL SELECTED
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

GONDWANA OIL SELECTED
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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