Tap Oil Acquires Additional Stake Offshore Ghana
Tap Oil has executed an agreement to purchase an additional 5% participating interest in the Offshore Accra Contract Area, Ghana from Challenger Minerals Inc for USD 1.5 million.
This transaction, which will increase Tap's participating interest from 40% to 45%, is another example of Tap actively managing its asset portfolio to capitalize on commercial opportunities which arise.
This transaction is subject to the prior written approval of the Ghana National Petroleum Corporation and of the Minister for Energy of the Republic of Ghana. Subject to such approvals, the effective date of the transaction will be April 1, 2011.
Tap's Managing Director/CEO Troy Hayden said, "As with our pre-emption of the WA-351-P sale, we see this as a commercially attractive opportunity to increase our holding in a highly prospective asset.
"Early results from the 2011 3D seismic survey over the deep water leads are encouraging and this additional 5% enhances our strategic options in the area."
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Rooftop Solar Now 4th Largest Source of Electricity in Australia
- US Confirms Reimposition of Oil Sanctions against Venezuela
- EU, Industry Players Ink Charter to Meet Solar Energy Targets
- Analyst Says USA Influence on Middle East Seems to be Fading
- Russian Ships to Remain Banned from US Ports
- Brazil Court Reinstates Petrobras Chair to Divided Board
- EIB Lends $425.7 Million for Thuringia's Grid Upgrades
- Var Energi Confirms Oil Discovery in Ringhorne
- Seatrium, Shell Strengthen Floating Production Systems Collaboration
- An Already Bad Situation in the Red Sea Just Got Worse
- What's Next for Oil? Analysts Weigh In After Iran's Attack
- USA Regional Banks Dramatically Step Up Loans to Oil and Gas
- EIA Raises WTI Oil Price Forecasts
- How Likely Is an All-Out War in the Middle East Involving the USA?
- Venezuela Authorities Arrest Two Senior Energy Officials
- Namibia Expects FID on Potential Major Oil Discovery by Yearend
- Oil Markets Were Already Positioned for Iran Attack
- Is The Iran Nuclear Deal Revival Project Dead?
- Petrobras Chairman Suspended
- Oil and Gas Executives Predict WTI Oil Price
- An Already Bad Situation in the Red Sea Just Got Worse
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil and Gas Execs Reveal Where They See Henry Hub Price Heading
- Equinor Makes Discovery in North Sea
- Macquarie Strategists Warn of Large Oil Price Correction
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Standard Chartered Reiterates $94 Brent Call
- Chevron, Hess Confident Embattled Merger Will Close Mid-2024
- Analysts Flag 'Remarkable Feature' of 2024 Oil Price Rally