ENERGY AFRICA LIMITED -
Registration number : 1995/007140/06
(Incorporated in the Republic of South Africa)
JSE code : ENR
ISIN code : ZAE000010427
ENERGY AFRICA GABON ANNOUNCES NEW GABON PERMIT
Energy Africa Gabon SA ("EAGSA"), which is 50% owned by Energy Africa
Limited, on 19 April 2002 signed a new Production Sharing Contract with the
State of Gabon for the Akoum Permit, previously designated as HM2000.
Akoum is located in the shallow offshore, some 100 km south-southeast of
Port Gentil. The Permit covers an area of 2947 square km and surrounds
three producing fields (Tchatamba Marin, South and West), which are together
producing 40,000 barrels of oil per day. The Tchatamba fields, in which
EAGSA holds a 25% interest, are operated by Marathon Gabon (56.25%).
EAGSA will operate the Akoum Permit with a 100% interest. The State has the
right to back-in to a 10% interest on first production.
It is intended to drill one exploration well in the next year and possibly a
second well within the initial two year licence period.
Rhidwaan Gasant, Managing Director of Energy Africa says "We are very
pleased to have been awarded the Akoum Permit which is our first operated
block offshore Gabon. The award confirms our intent to make use of our
knowledge and experience of the area to build upon our success in Gabon and
to grow our business there".
22 April 2002
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
In Cape Town:
Energy Africa Ltd
Adrian Nel
+27 82 806 8118
Corporate Image
Tamra Veley
+27 21 426 1233
In London:
College Hill
Nicholas Williams
+44 20 7457 2020
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