{"id":5340,"date":"2016-10-26T13:28:37","date_gmt":"2016-10-26T13:28:37","guid":{"rendered":"http:\/\/www.oilnewskenya.com\/?p=5340"},"modified":"2017-01-24T16:05:03","modified_gmt":"2017-01-24T16:05:03","slug":"jacka-resources-still-considering-withdrawal-from-tanzanias-ruhuhu-block","status":"publish","type":"post","link":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-still-considering-withdrawal-from-tanzanias-ruhuhu-block\/","title":{"rendered":"Jacka Resources Still Considering Withdrawal from Tanzania\u2019s Ruhuhu Block"},"content":{"rendered":"

Ruhuhu Basin operator Jacka Resources has said it is considering the negotiated withdrawal of Tanzania\u2019s Ruhuhu Block after an unsuccessful farm-out<\/a> campaign it initiated in September 2014. This is the second time<\/a> the company has considered a withdrawal from the license.<\/p>\n

\u201cThe Company is also seeking a possible withdrawal from its involvement in Tanzania, where it has had no success in attracting a farminee to its 100% interest in the Ruhuhu licence,\u201d Jacka Resources chairman Max Cozijn said in a letter to shareholders.<\/p>\n

Jacka says it has consequently curtailed its operating and overhead costs and continues to focus on minimising financial exposure by all available means including a divestment of the project.<\/p>\n

In the Tanzanian Ruhuhu block, the Company is partway through its 4 year exploration work program. Under the terms of the Production Sharing Agreement the US$4m minimum work program is required to be completed by March 2017. The Company also agreed to drill a well with an anticipated US$10m minimum expenditure on an identified target that may emerge from the exploration work program.<\/p>\n

The Company has spent a total of US$1,709,525 on the Tanzanian Ruhuhu block to date.<\/p>\n

\u201cThe Company has provided a guarantee to the Tanzanian Petroleum Development Corporation in respect of its subsidiary\u2019s obligations under the PSA,\u201d the annual report continues.<\/p>\n

Jacka Resources has said a prospective resource assessment<\/a> at the Ruhuhu Block has set the highest estimate at 3.6 billion barrels of oil in both conventional and unconventional oil. According to the resource assessment the 3.6BOE\u00a0include 263 million barrels of oil (MMBO) of conventional neogene oil and 20 Tcf unconventional gas + liquids potential (shale\/tight gas and coal seam methane).<\/p>\n","protected":false},"excerpt":{"rendered":"

Ruhuhu Basin operator Jacka Resources has said it is considering the negotiated withdrawal of Tanzania\u2019s Ruhuhu Block after an unsuccessful farm-out campaign it initiated in September 2014. This is the … Read More<\/a><\/p>\n","protected":false},"author":24,"featured_media":1825,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11],"tags":[1192,5455,2203,2466,2472,2543],"class_list":["post-5340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-jacka-resources","tag-max-cozijn","tag-ruhuhu-block","tag-tanzania","tag-tanzania-petroleum-development-corporation","tag-tpdc","entry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/p5JWkQ-1o8","jetpack-related-posts":[{"id":1824,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-initiates-tanzanias-ruhuhu-block-farm-out-campaign\/","url_meta":{"origin":5340,"position":0},"title":"Jacka Resources initiates Tanzania\u2019s Ruhuhu Block farm-out campaign","author":"Samuel Kamau Mbote","date":"September 25, 2014","format":false,"excerpt":"[twitter-follow screen_name='oilnewskenya'] Jacka Resources has announced it has initiated a farm-out campaign after being approached by a number of parties interested in the license in its Ruhuhu Block. This continues even as the comprehensive review of the license area\u2019s prospectivity that was recently completed continues. The comprehensive review the company\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4140,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-considers-relinquishment-of-tanzania-ruhuhu-block\/","url_meta":{"origin":5340,"position":1},"title":"Jacka Resources Considers Relinquishment of Tanzania Ruhuhu Block","author":"","date":"November 30, 2015","format":false,"excerpt":"ASX listed Jacka Resources has said its management is exploring all options including relinquishment as farm-out campaign initiated in September 2014 and which has not seen much interest thus far. Jacka which is currently planning seismic and airborne gravity surveys attributes this to a lack of risk appetite in current\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2016,"url":"https:\/\/www.oilnewskenya.com\/index.php\/oil-potential-in-tanzanias-ruhuhu-block-placed-at-3-6-boe\/","url_meta":{"origin":5340,"position":2},"title":"Oil Potential in Tanzania\u2019s Ruhuhu Block placed at 3.6 BOE","author":"Samuel Kamau Mbote","date":"November 7, 2014","format":false,"excerpt":"Australian explorer Jacka Resources has said a prospective resource assessment at the Ruhuhu Block has set the highest estimate at 3.6 billion barrels of oil in both convectional and unconventional oil. According to the resource assessment the 3.6BOE\u00a0 include 263 million barrels of oil (MMBO) of conventional neogene oil and\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/09\/ruhuhu-basin.jpg?fit=666%2C459&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":1446,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-planning-farm-out-in-tanzania-ahead-of-seismic-in-2015\/","url_meta":{"origin":5340,"position":3},"title":"Jacka Resources planning farm-out in Tanzania ahead of seismic in 2015","author":"Samuel Kamau Mbote","date":"July 14, 2014","format":false,"excerpt":"Jacka Resources has announced that it will be farming out \u00a0its Ruhuhu block ahead of its planned seismic acquisition in the first half of 2015 according to the company\u2019s latest corporate presentation. The company is already carrying out early stage exploration on the block with a depth to basement map\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/tanzania-ruhuhu.png?fit=819%2C372&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/tanzania-ruhuhu.png?fit=819%2C372&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/tanzania-ruhuhu.png?fit=819%2C372&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/tanzania-ruhuhu.png?fit=819%2C372&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1421,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-executives-to-leave-company-in-q4-2014\/","url_meta":{"origin":5340,"position":4},"title":"Jacka Resources executives to leave company in Q4 2014","author":"Samuel Kamau Mbote","date":"July 10, 2014","format":false,"excerpt":"Jacka resources, a company with core focus is in North Africa, West African Transform Margin and East Africa rift basins has announced that the managing director and the chief financial officer have tendered their resignation effective in September and October respectively. The chief financial officer Richard Aden\u2019s resignation takes effect\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/07\/jacka-resources.jpg?fit=400%2C400&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":981,"url":"https:\/\/www.oilnewskenya.com\/index.php\/jacka-resources-signs-second-farm-out-with-sterling-energy-in-somaliland\/","url_meta":{"origin":5340,"position":5},"title":"Jacka Resources signs second farm-out with Sterling Energy in Somaliland","author":"Samuel Kamau Mbote","date":"May 6, 2014","format":false,"excerpt":"Jacka Resources\u00a0has announced that Jacka Resources Somaliland Limited has signed a second Farmout Agreement with\u00a0Sterling Energy (East Africa) Limited for the\u00a0Odewayne Block Production Sharing Contract, onshore Somaliland, East Africa. Sterling will acquire JRSL\u2019s 15% participating interest in the PSC for a total cash consideration of US$12 million and approval for\u2026","rel":"","context":"In "Top News"","block_context":{"text":"Top News","link":"https:\/\/www.oilnewskenya.com\/index.php\/category\/top-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/www.oilnewskenya.com\/wp-content\/uploads\/2014\/05\/somaliland.jpg?fit=702%2C550&ssl=1&resize=700%2C400 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/comments?post=5340"}],"version-history":[{"count":1,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5340\/revisions"}],"predecessor-version":[{"id":5341,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/posts\/5340\/revisions\/5341"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media\/1825"}],"wp:attachment":[{"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/media?parent=5340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/categories?post=5340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.oilnewskenya.com\/index.php\/wp-json\/wp\/v2\/tags?post=5340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}