Somalia: Two-well exploratory program nears

By OGJ editors

Africa Oil Corp., Vancouver, BC, and Denovo Capital Corp. have formed Horn Petroleum Corp. and raised $41 million for the drilling of two exploratory wells on the Dharoor Valley Block in Puntland, Somalia.

Africa Oil subscribed for $10 million of the $41 million private placement and will have an approximate 50% interest in Horn Petroleum when the transaction completes. The first well is to spud in the fourth quarter of 2011.

Partial relinquishments in both the Dharoor Valley and Nugaal Valley agreements have been finalized and approved.  The Puntland government has approved the formation of Horn Petroleum and the impending transaction with the Africa Oil.

Related Articles

Repsol drills dry hole offshore Trinidad and Tobago

04/17/2014 Spain’s Repsol has drilled a dry hole with its Pinter One offshore Trinidad and Tobago’s east coast. The dry hole represents a major failure for th...

Total discovers oil deep offshore Ivory Coast

04/17/2014

Total Exploration & Production says its Saphir-1XB exploratory well discovered oil in deepwater off Ivory Coast.

US gas reserve growth in 2013 was robust, AGA estimates

04/17/2014 US natural gas producers added more than 35 tcf of reserves in 2013, the American Gas Association said in its latest annual preliminary estimate ba...

Shell makes deepwater gas discovery offshore Malaysia

04/17/2014

Royal Dutch Shell PLC has made a natural gas discovery with the Rosmari-1 well, which was drilled 135 km offshore Malaysia on Block SK318.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected