Two blocks licensed off Madagascar

The recent signing of licensing agreements for blocks off Madagascar by two U.S. companies could rekindle exploration interest in the area, said Marex Inc., a Houston consulting firm that acted as intermediary on both contracts. In two unrelated transactions, Xpronet Inc. and Frontier Resources International Inc., both based in Houston, signed 1-year contracts with Madagascar's petroleum-granting authority, Omnis. Each company's licensing agreement is for two 2-block areas off Madagascar see map [57,905 bytes]. Xpronet's license, consisting of Blocks A and B, is in the Mozambique Channel off western Madagascar and extends into water as deep as 3,000 m. Th...

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