Sunday Times22 May 2017 13:13
John Teeling’s Clontarf Energy said it will work with the new Ghanaian government to agree a revised work programme on its long-delayed exploration activities in the west African state.
The AIM-listed explorer also said it plans to “reinvigorate” the company and it is examining proposals for new projects, despite posting a £199,628 (€230,000) loss last year.
In a statement to the market, Teeling said it is committed to its 60% interest in the Ghana licence and has reached agreement on a number of issues. “Certain issues remain outstanding and we are working to solve them. At $50 a barrel oil we believe the licence area holds significant potential,” he said.