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SOUTH AFRICA: Eco Atlantic Deposits $20M as Capex for the Gazania-1 well on Block 2B

Africa Energy Corp. has reported that Eco (Atlantic) Oil & Gas Ltd. has deposited approximately US$20 million in escrow to support its capital expenditure requirements for the Gazania-1 well on Block 2B offshore South … Read More

SOUTH AFRICA: Eco Atlantic Signs Rig Contract for Block 2B

Eco (Atlantic) Oil & Gas has announced that the Joint Venture partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with … Read More

SOUTH AFRICA: Eco Atlantic Signs Definitive Share Purchase Agreement with Azinam

Further to the announcement on 10 January 2022, Eco (Atlantic) Oil & Gas Ltd. has confirmed that it has signed a definitive Share Purchase Agreement (SPA) to acquire 100% of … Read More

Namibia/South Africa: Eco Atlantic Acquires Azinam’s Asset Base

Highlights  ·    Acquisition of a material offshore petroleum exploration asset base in Namibia and South Africa ·    Consideration in the form of new common shares to Azinam Holdings Limited who will own 16.65% of the … Read More

SOUTH AFRICA: Block 11B/12B JV Contemplating Early Production System for a Phased Development of the Paddavissie Fairway

Block 11B/12B joint venture partners are contemplating an early production system (EPS) for a phased development of the Paddavissie Fairway according to Africa Energy. Africa Energy says joint venture is … Read More

SOUTH AFRICA: Total Assessing the Feasibility of an Early Production System in Block 11B/12B

Africa Energy has reported that the joint venture partners with Total as operator on Block 11B/12B offshore South Africa are assessing the feasibility of an early production system for a possible phased … Read More

Africa Oil Announces 2020 Fourth Quarter Results

Highlights Africa Oil fourth quarter net income of $79.8 million and full-year net income of $198.0 million, excluding a $215.6 million non-cash impairment of Kenya exploration assets posted in the first quarter 2020. Strong quarterly profit contribution … Read More

SOUTH AFRICA: Tower Resources Enters the Second Exploration Period of the Algoa-Gamtoos license

Tower Resources has announced that its subsidiary Rift Petroleum Ltd, together with Operator and 50% partner New Age Energy Algoa (Pty) Ltd, has now formally agreed to enter the Second … Read More

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