RE: Testing3 Sep 2023 08:20
Yes we have farmed out 50% of project 4 but they are working on a larger farm out.
"GOGL is involved in advanced detailed farm-out discussions with national and major oil companies around a farm-in to the Dido Lilo and South Samgori Areas.
Commenting, Paul Haywood, Block Energy CEO said:
"This farm-out enables Block to combine and progress advanced exploration opportunities (800 MMBOE) with a capable and well-qualified operator, at de minimis cost, whilst allowing it to continue to focus on its core production and appraisal-led three Project strategy. This high-impact exploration opportunity also compliments the existing portfolio with very substantial upside which continues to attract the attention of major oil companies across the region.
GOGL have committed to a significant work programme that supports this exploration opportunity. The commitment to acquire and reprocess existing seismic on XIB will also complement our work within Projects I, II and Project III. The Company looks forward to working with GOGL, in the Didi Lilo and South Samgori Areas, as well as on a larger farm-out strategy led by GOGL."