Exploration starts on large block in Central African Republic south of Chad oil project

A Denver independent will prospect a large area of northern Central African Republic (CAR), just south of where an ExxonMobil Corp. group is moving to tap significant oil finds in southern Chad.The rights granted to RSM Production Corp., an affiliate of Grynberg Petroleum Co. of Denver, cover 13.7 million acres in the Doba, Doseo, and Salamat basins which straddle Chad and the CAR. Grynberg is an independent international oil and gas company.The Chadian part of the basins contains five oil fields with proved oil reserves of 1 billion bbl of oil and a potential of 5 billion bbl, RSM said. There is one other oil producing basin in Chad farther to the north known as the Chad (Termit) basin.T...

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