| Thu 11 Oct 2001, 0:00 | | Energy Africa Increases Acreage Position In Uganda |
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Energy Africa Limited
Registration number: 1995/007140/06
(Incorporated in the Republic of South Africa)
Share code : ENR
ISIN : ZAE000010427
ENERGY AFRICA INCREASES ACREAGE POSITION IN UGANDA
Energy Africa is pleased to announce its participation in a second
exploration licence in Uganda. On 8 October 2001 Energy Africa and Hardman
Resources, through wholly owned subsidiaries, signed a Production Sharing
Agreement with the Ugandan Government in respect of Block 2. Each party
will hold a 50% interest and Hardman will be the operator during the initial
exploration phase. This follows Energy Africa's 50% participation in Block
3, operated by Heritage Oil and Gas, which was approved by the Government of
Uganda in September 2001.
Block 2 covers an area of 4700 sq km over the northern part of Lake Albert
in northwest Uganda and is contiguous with Block 3 to the south. Energy
Africa thus has a 50% interest in an area covering some 7800 sq km of the
most prospective part of the Albertine Graben.
Energy Africa's Managing Director, Mr Rhidwaan Gasant, said "the acquisition
of further acreage in the Albertine Graben is in line with Energy Africa's
strategy of securing a large exposure in prospective, underexplored basins
with the potential to yield large discoveries. We are pleased to be taking
a major role in the application of modern exploration techniques in Uganda
and to be associated with Hardman Resources who, as a smaller independent,
shares similar objectives to Energy Africa."
A copy of Hardman's press release is appended.
11 October 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
"HARDMAN SIGNS PETROLEUM LICENCE WITH ENERGY AFRICA IN
UGANDA
We are pleased to advise that Hardman Petroleum Africa NL, a wholly owned
subsidiary of Hardman Resources NL ("Hardman" or "the Company") has signed a
Production Sharing Agreement ("PSA") with the Government of Uganda over
Block 2. This block covers an area of approximately 4,700 square kilometres
over the northern part of Lake Albert in north-western Uganda.
Hardman is the Operator of the PSA which is held in a 50-50 joint venture
with Energy Africa Limited. Energy Africa, with headquarters in Cape Town,
is Africa's largest independent non-government petroleum company. It has
exploration and production interests in twelve countries including South
Africa, Namibia, Angola, Gabon, Egypt, Equatorial Guinea and the United
Kingdom. Energy Africa is also a 50% partner, with Heritage Oil and Gas, in
Uganda Block 3, which covers the southern part of the Lake Albert area.
Block 2 covers part of the Albertine Graben which in turn is part of the
East African Rift Basin. The area is under-explored, with only one well
having been drilled on the shores of Lake Albert in Block 2 by Shell in
1938, which encountered oil shows. The presence of a thick sedimentary
sequence in the graben, well-documented oil seeps along the edge of the lake
and information from gravity and magnetic surveys provide encouraging
indications of the area's petroleum potential.
Block 2 was previously held by Hardman from November 1997, however it was
relinquished by the Company in early 1999 as part of the Company's
rationalisation of its worldwide project portfolio in a period of low oil
prices. At that time the Company expressed its willingness to the
Government to return to the area in the event that a technically and
financially strong joint venture could be formed.
The first-year work programme of the PSA provides for the acquisition of
seismic data and building upon Hardman's previous work, plans are already
well advanced for a survey over the lake using specialised equipment which
is already in-country.
Hardman's Managing Director, Mr Ted Ellyard commented: "We are particularly
pleased that circumstances have allowed us to return to Uganda and to resume
work over the Block 2 area. From the outset we have had a positive view of
the prospectivity of this area and we have already established a long-term
cooperative relationship with the Ugandan petroleum authorities. Our
partnership with Energy Africa, which has very extensive experience and
expertise in the African environment, will assist us greatly in upgrading
the potential of this area."
HARDMAN RESOURCES NL
KATHRYN DAVIES
COMPANY SECRETARY AND
CHIEF FINANCIAL OFFICER
+61 8 9321 6881"
