Sri Lanka Launches Mannar Basin Roadshow in London

The government of Sri Lanka today launched the Mannar Basin License Round 2007 in London. The Honourable Mr Fowzie , The Minister of Petroleum and Petroleum Resources Development, together with Dr Amunugama, Minister of Enterprise Development and Investment Promotion, accompanied by Dr Neil de Silva, the Director General of Petroleum Resources Development Secretariat, took part in the first of a series of presentations scheduled over the coming weeks.

Following in excess of 50,000 website visitors, 31 International Oil and Gas companies are pre-registered or represented for this event. Companies ranging from major multinational to independents will be represented at these presentations, which will be followed by data rooms enabling companies to review the technical data available for this unexplored basin. The strongest interest is being clearly seen from the Asian presentation scheduled for Kuala Lumpur where it has been necessary to extend the data rooms to accommodate the increased level of interest being shown in this opportunity. The Houston presentation will be held on the 17th September with the Kuala Lumpur presentation following a week later on the 24th September 2007.

Interest in this licensing round is matching the Sri Lankan government expectations. With the recent discovery announcements of the finds in the East Coast of India and particularly the probable extension of plays from the Cauvery Basin to the Mannar Basin, along with the potential for large discoveries as indicated on the pre-existing seismic, this is viewed as an area of interest.