APCL's mystery partner - CAIRN???
I'm not sure how much we could trust the Africa Energy Intelligence.. they have a bad reputation of reporting misleading info in the past... they say APCL's mystery partner is CAIRN...
Who is African Petroleum’s mystery partner?
Evicted by Total on its Rufisque Offshore Profound Permit, African Petroleum has found a partner for Senegal Offshore Sud Profond but is being tight lipped over its name.
This week marks the end of the eight-week exclusivity period for African Petroleum granted to a listed oil company to buy 70% of its Senegal Offshore Sud prize permit as well as blocks A1 and A4 in the Gambia.
According to information gathered by Africa Energy Intelligence in Dakar, this mysterious partner is none other than Cairn Energy. Cairn already operates Sangomar Deep, Sangomar Offshore and Rufisque offshore, which abuts African Petroleum's permit. When contacted, neither African Petroleum nor Cairn would confirm our information.
Cairn is experienced in deep offshore projects, making it a sure bet for African Petroleum. The group has bored at 1,300m off the coast of Sri Lanka, as well as no less than nine wells in Senegalese offshore on its Sangomar Deep permit. The exact volume of the substantial reserves revealed by these drills will be presented to the company's shareholders in August.
The two oil companies first struck up talks in April and are considering an ambitious work program. Due to a lack of funds and experience, the junior founded by Romanian businessman Frank Timis has not been able to get underway with work on its Senegal Offshore Sud Profond Block. The arrangement with Cairn is for the British oil company to finance two wells to the tune of $ 35 million each, and with the possibility of two more down the track for the same amount.
As it stands, only these talks are exclusive: no firm agreement has been signed between Cairn and African Petroleum.
https://www.africaintelligence.com/...can-petroleum-s-mystery-partner,108249447-ART
APCL's mystery partner - CAIRN??? I'm not sure how much we could...
Add FAR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
46.0¢ |
Change
-0.010(2.13%) |
Mkt cap ! $42.50M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 46.0¢ | $70.53K | 152.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 161924 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.5¢ | 1519 | 1 |
View Market Depth
| Last trade - 16.10pm 19/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |