5 Dec 2014 07:00
5 December 2014
Ophir Energy plc
("Ophir"")
Signing of Myanmar PSC
Ophir Energy plc is pleased to announce that it has signed a Production Sharing Contract with the Myanmar Ministry of Energy which finalises the award of Block AD-03 offshore Myanmar.
Ophir has a 95% operated interest in the block which is located in the Rakhine Basin. The Block is approximately 10,000km2 in size and is on trend with the multi-TCF, producing Shwe gas field.
Ophir will re-process existing 2D and will promptly acquire 3D seismic data as part of the initial exploration period.
Nick Cooper, CEO of Ophir, commented:
"Ophir is continuing to act counter cyclically to expand its exploration portfolio. The Block AD-03 PSC contains multiple mapped prospects with world class potential and we now look forward to completing a 3D seismic survey to refine this prospectivity."
Ends
For Further Enquiries please contact:
Ophir Energy plc +44 (0)20 7811 2400
Nick Cooper, CEO
Bill Higgs, COO
Geoff Callow, Head of Investor Relations
Brunswick Group +44 (0)20 7404 5959
Patrick Handley
Marleen Geerlof
Notes to Editors
Ophir Energy (OPHR.LN) is an upstream oil and gas exploration company which is listed on the London Stock Exchange (FTSE 250). Ophir has an extensive deepwater acreage position in West and East Africa acquired since its foundation in 2004.
The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Dar es Salaam and Mtwara (Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon) and Nairobi (Kenya).
For further information on Ophir, please refer to www.ophir-energy.com