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South Africa: Azinam South Africa completes acquisition of 50 per cent operated interest in Block 2B oil discovery offshore South Africa 21 Apr 2021 Azinam South Africa Limited ( ASAL ), a Seacrest company, has announced the completion of its acquisition of a 50% operated interest in Block 2B offshore South Africa. Under the terms of the Company’s farmout agreement with Africa Energy Corp, ASAL has acquired a 50.0% participating interest in Block 2B and become the Operator of Block 2B on behalf of the joint venture partners. Africa Energy Corp. will retain a 27.5% participating interest in the block. Simultaneously, Panoro Energy has become a 12.5% participating interest holder on the licence. Crown Energy indirectly holds the remaining 10% participating interest. ....
Africa Energy Closes Farmouts on Block 2B Offshore South Africa News provided by Share this article VANCOUVER, BC, April 20, 2021 /CNW/ - Africa Energy Corp. (TSXV: AFE) (Nasdaq First North: AEC) ( Africa Energy or the Company ), an oil and gas company with exploration assets offshore South Africa and Namibia, has received governmental approval and closed the previously announced farmout transactions on Block 2B offshore South Africa. The Company has transferred operatorship and an aggregate 62.5% participating interest in the Exploration Right for Block 2B in consideration for a carry through the next exploration well, Gazania-1, which is expected to spud by the end of 2021. Africa Energy retains a 27.5% participating interest in Block 2B. View PDF version. ....
South Africa: Panoro completes farm-in to Block 2B, offshore South Africa 20 Apr 2021 Block 2B offshore South Africa. John Hamilton, CEO Panoro, said: Following our recently announced successful entry into Equatorial Guinea, we are pleased to now be adding a further country into our growing portfolio of African E&P assets. Block 2B represents a compelling exploration opportunity for Panoro, in a country with exciting world class oil and gas discoveries. The Gazania-1 well is an exploration prospect updip of an existing oil discovery with material potential upside. We look forward to drilling this well with our partners, Africa Energy and Azinam, by the end of the year” ....