Energy Africa Limited
Registration number: 1995/007140/06
(Incorporated in the Republic of South Africa)
ENERGY AFRICA LIMITED - CHANGES TO EXPLORATION PORTFOLIO
Energy Africa is pleased to inform shareholders that it has today concluded
an agreement whereby it will acquire a 50% interest in Block 3 in the
Republic of Uganda from Heritage Oil and Gas Ltd who will retain a 50%
interest and the operatorship. Energy Africa has also concluded an
agreement with Petronas Carigali of Malaysia whereby Petronas will acquire
from Energy Africa a 42.5% interest in the Tiznit licence in Morocco.
Energy Africa will retain 42.5% and the operatorship. Both transactions are
subject to the approval of the respective Governments.
Block 3, in west Uganda, covers 3100 sq.km in the virtually unexplored
Semliki-Albertine basin in the East African Rift. Seismic data acquired by
Heritage indicates a significant thickness of Tertiary and Cretaceous age
sediment and further seismic will be acquired in 2001 to more closely define
a target which will be drilled in 2002. In the Tiznit licence in Morocco,
acquisition of a 3-D seismic survey, covering approximately 1500 square
kilometers, will commence shortly.
Rhidwaan Gasant, Energy Africa's Managing Director said " The changes
announced today serve to balance Energy Africa's exploration portfolio and
the acreage in Uganda provides significant exposure in another unexplored
basin with exciting potential for major oil accumulations."
8 August 2001
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
In Cape Town:
Energy Africa Ltd
Adrian Nel
+27 21 400 7600
Corporate Image
Tamra Veley
+27 21 426 1233
In London:
College Hill
Nicholas Williams
+44 20 7457 2020
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