By OGJ editors
HOUSTON, Aug. 20 – Raytec Metals Corp. took a farmout from Africa Oil Corp. that covers blocks in Somalia’s Puntland state and Kenya. Both are based in Vancouver, BC.
Raytec will pay a disproportionate share of costs of planned work programs in 2009-2010.
The agreement covers a 15% interest in the Nogal and Dharoor production sharing agreements in Somalia. The Nogal block is in the Nogal basin, and the Dharoor block is in the Al Medo basin.
It also covers a 10% interest in Block 9, a 25% interest in Block 10A, and a 20% interest in Block 10BB in Kenya. The blocks are in and west of the northern Anza basin.