African Petroleum Wins Block-Duo Offshore Senegal

African Petroleum announced that its wholly owned subsidiary, African Petroleum Senegal, has entered into an agreement with the Société des Pétroles du Sénégal and the République du Sénégal to acquire two offshore exploration permits covering two blocks: Rufisque Offshore Profond and Senegal Offshore Sud Profond.

Key points:

  • African Petroleum Senegal entered into agreements with Petrosen and the State of Senegal to acquire exploration rights in two offshore blocks: Rufisque Offshore Profond and Senegal Offshore Sud Profond.
  • African Petroleum Senegal will be the operator with 90% interests in the two blocks covering a total surface area of 18,277 sq km.
  • African Petroleum Senegal's exploration program will target deep water Upper Cretaceous submarine fans in Senegal which are considered to have similar high impact potential as discoveries in the Jubilee field, Ghana and Mercury discovery, Sierra Leone.

African Petroleum currently holds a 100% interest in blocks LB-08 and LB-09 offshore Liberia, where it has completed 5,100sq km of 3D seismic data. It has drilled one well in LB-09 with encouraging results and plans to drill another well in the same block in 1Q 2012.
African Petroleum holds a 100% interest in block SL-03 offshore Sierra Leone where it has recently completed 3D seismic acquisition covering 2,500 sq km.

The Company also holds a 60% operating interest in blocks A1 and A4 offshore Gambia where it has completed 2,500 sq km of 3D seismic. This is in conjunction with its partner Buried Hill Gambia BV.

Through the continued acquisition of offshore acreage, African Petroleum is moving towards becoming one of the largest West African focused oil and gas exploration companies.


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