partnering process Côte d'Ivoire30 Jun 2015 11:06
Got a good feeling guys
African Petroleum provides update on partnering process
TUESDAY, JUNE 30, 2015
Côte d'Ivoire
http://www.oilvoice.com/n/African-Petroleum-provides-update-on-partnering-process/50a5f449ede1.aspx
As announced on 29 June 2015, African Petroleum has signed a binding joint bidding agreement with a large London listed oil and gas company to provide a framework for the incoming third party to secure a 45% operated interest in a Production Sharing Contract (on terms to be agreed) covering the Company's Block CI-513 licence area in Côte d'Ivoire. It is intended that African Petroleum will hold a non-operated interest of 45%, with the remaining 10% carried interest held by Petroci, the National Oil Company of Côte d'Ivoire.
Completion of the transaction is subject to negotiation and entry into commercial agreements and several conditions precedent including, but not limited to, the agreement and approval of the Government of Côte d'Ivoire.
African Petroleum and the incoming party are working together towards completion of the transaction as soon as possible, and the Company expects to make further announcements, including further details of commercial terms, in due course as progress is made.