Guinea-Bissau Update 26 April 2021
Guinea-Bissau Update
26 April 2021
PetroNor E&P Limited
(“PetroNor” or the “Company”)
Guinea-Bissau Update
PetroNor (OSE ticker: “PNOR”), the independent oil and gas exploration and production company with a focus on sub-Saharan Africa, provides the following update on its purchase of SPE Guinea Bissau AB, as announced on 20 November 2020.
The Company is pleased to announce that it has received the necessary approvals in country, representing a condition precedent to completion which has now been satisfied, consequently the transaction will complete as per the terms of the share purchase agreement.
PetroNor will assume 78.57% interest as Operator of the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licences in Guinea-Bissau, which have been extended for 3 years and are valid until 2 October 2023 maintaining the same attractive fiscal terms. PetroNor will now commence discussions with the JV Partners on the licences to discuss the work programme, with a view to undertaking drilling activity in 2021/22.
Commenting on the update, CEO Knut Søvold said:
"We are delighted to have received the requisite approvals to complete the acquisition of these highly attractive and strategically complementary assets. The acquisition diversifies our exploration portfolio and provides us with meaningful exposure to a number of drill ready prospects, with Atum and Anchova containing a gross case recoverable prospective resource of 498 mmbbl (Svenska Petroleum Exploration estimate). The addition of high potential acreage in Guinea-Bissau delivers more high impact assets to our portfolio and enhances our ability to monetise our exploration assets in due course. These assets have the potential to be truly transformational for our business, and we know there is firm interest in the MSGBC exploration trend and our prospects are analogous to the world class Sangomar field in Senegal. Add to that the improving sentiment caused by strengthening crude prices and we have great confidence that this is a well-timed and well-executed transaction that will deliver long-term value for our
26 April 2021
PetroNor E&P Limited
(“PetroNor” or the “Company”)
Guinea-Bissau Update
PetroNor (OSE ticker: “PNOR”), the independent oil and gas exploration and production company with a focus on sub-Saharan Africa, provides the following update on its purchase of SPE Guinea Bissau AB, as announced on 20 November 2020.
The Company is pleased to announce that it has received the necessary approvals in country, representing a condition precedent to completion which has now been satisfied, consequently the transaction will complete as per the terms of the share purchase agreement.
PetroNor will assume 78.57% interest as Operator of the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licences in Guinea-Bissau, which have been extended for 3 years and are valid until 2 October 2023 maintaining the same attractive fiscal terms. PetroNor will now commence discussions with the JV Partners on the licences to discuss the work programme, with a view to undertaking drilling activity in 2021/22.
Commenting on the update, CEO Knut Søvold said:
"We are delighted to have received the requisite approvals to complete the acquisition of these highly attractive and strategically complementary assets. The acquisition diversifies our exploration portfolio and provides us with meaningful exposure to a number of drill ready prospects, with Atum and Anchova containing a gross case recoverable prospective resource of 498 mmbbl (Svenska Petroleum Exploration estimate). The addition of high potential acreage in Guinea-Bissau delivers more high impact assets to our portfolio and enhances our ability to monetise our exploration assets in due course. These assets have the potential to be truly transformational for our business, and we know there is firm interest in the MSGBC exploration trend and our prospects are analogous to the world class Sangomar field in Senegal. Add to that the improving sentiment caused by strengthening crude prices and we have great confidence that this is a well-timed and well-executed transaction that will deliver long-term value for our
Fluefiskeren
30.04.2021 kl 12:52
2619
Ev88 skrev Deilig med dupp på lønningsdag. Tusen takk.
Men litt synd at oljeprisen faller 2,3 %. Likevel blir det en bra pris. 66,98 USD pr. fat nå.
Redigert 30.04.2021 kl 12:52
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tuja
30.04.2021 kl 13:05
2572
Du kom meg i forkjøpet, FF (ang olja). Men uansett renner det inn positiv cashflow med dagens pris. Bærre lækkert.
:)
:)
Er svært bra pris på 67$. De tjente jo bra med penger i 2020 på halvparten av oljeprisen. De som selger denne i dag på det grunnlag at oljen dupper ned på 67$ har ikke fulgt så godt med i timen.
FkL
30.04.2021 kl 14:02
2401
Vi kan leve med ganske lave oljepriser uten problemer. Det viser jo nettopp dagens rapport. Alt over $40 gir meget grønne tall og så forstår vel alle at jo lenger nord for dette vi er jo bedre blir det. Dagens priser er altså milevis over der vi tjener gode penger. Nå tjener vi ekstremt mye penger.
Noen har jo solgt ned mot 1,45, så regner med det har noe med oljen å gjøre.
Blygen
30.04.2021 kl 14:35
2304
Sitt stille og long...drar seg til på tampen av dagen, mnd og året...:)
FkL
30.04.2021 kl 15:52
2207
Det kan ikke være langt unna en annonsering av partner når de snuser på 2021 i Guinea-Bissau.
Drilling of Blocks 2 and 4A & 5A offshore Guinea Bissau to start this year
By patrick mulyungi - Modified date: Apr 30, 2021
Drilling works for Blocks 2 and 4A & 5A offshore Guinea Bissau under the Sinapa and Esperança Licences respectively are set to take place between the end of this year (2021) and next year (2022) according to PetroNor E&P, a full-cycle Africa-focused independent oil and gas exploration, and production (E&P) company.
https://constructionreviewonline.com/news/drilling-of-blocks-2-and-4a-5a-offshore-guinea-bissau-to-start-this-year/?amp
Drilling of Blocks 2 and 4A & 5A offshore Guinea Bissau to start this year
By patrick mulyungi - Modified date: Apr 30, 2021
Drilling works for Blocks 2 and 4A & 5A offshore Guinea Bissau under the Sinapa and Esperança Licences respectively are set to take place between the end of this year (2021) and next year (2022) according to PetroNor E&P, a full-cycle Africa-focused independent oil and gas exploration, and production (E&P) company.
https://constructionreviewonline.com/news/drilling-of-blocks-2-and-4a-5a-offshore-guinea-bissau-to-start-this-year/?amp
FkL
30.04.2021 kl 16:08
2160
Dette viser jo godt at Total fremdeles har planer for Senegal og at de absolutt kommer til å kjøre videre på ROP. Det viser også at det er stor interesse for MSGBC da de til og med får inn partnere på UDO, hvilket jeg trodde var vanskelig. Her er det bare å glede seg til våre partnere ruller inn.
Total E&P sells 20% to KNOC in the UDO block
Westaf Mining - Edition n ° 07 of April 30, 2021
Westaf Mining by Westaf Mining April 30, 2021
Total E&P sells 20% to KNOC in the UDO block
45
SHARES
The Korean national company, Korean National Oil Company (KNOC), has taken shares in the ultra-deep offshore block, located in the northern part, held by the French Total Sa. The French major company has sold to the Korean giant 20 % of its shares that it held in UDO, one of its two blocks
https://www.westaf-edit.com/total-ep-cede-20-a-la-knoc-dans-le-bloc-udo/
Total E&P sells 20% to KNOC in the UDO block
Westaf Mining - Edition n ° 07 of April 30, 2021
Westaf Mining by Westaf Mining April 30, 2021
Total E&P sells 20% to KNOC in the UDO block
45
SHARES
The Korean national company, Korean National Oil Company (KNOC), has taken shares in the ultra-deep offshore block, located in the northern part, held by the French Total Sa. The French major company has sold to the Korean giant 20 % of its shares that it held in UDO, one of its two blocks
https://www.westaf-edit.com/total-ep-cede-20-a-la-knoc-dans-le-bloc-udo/
Redigert 30.04.2021 kl 16:10
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hofa
30.04.2021 kl 16:54
2075
Fik næsten 100 k mere i dag til 1,45 - 1,466 helt utroligt at folk sælger på dette niveau.
FkL
30.04.2021 kl 17:01
2045
Total bekrefter også det samme in sin egen rapport fra mars. Selv med endret strategi så er det nok ikke ønskelig å oppgi en leteblokk i sin tidligere koloni Senegal for Frankrike. Her er det nok for mange politiske tråder i tillegg til ren business. Dette betyr igjen at presset ligger tungt på Senegal til få løst floken med oss. "In Senegal, TOTAL is continuing its exploration activities on two operated offshore blocks."
https://www.total.com/system/files/documents/2021-03/2020-universal-registration-document.pdf
https://www.total.com/system/files/documents/2021-03/2020-universal-registration-document.pdf
Vestjyden
30.04.2021 kl 17:04
2034
Det ville kun blive mere interessant, hvis vi ved Domstolen får tilkendt både SOSP og ROP J.
thief
30.04.2021 kl 17:11
2014
Ja,her kommer det garantert partnere.Fantastisk mye spennende fremover.🙂2tallet passeres i 2021!
FkL
30.04.2021 kl 17:14
2000
Det hadde vært helt crazy, men Senegal utsetter seg jo faktisk for en slik risiko hvis det ikke blir forlik.
Hvis så skjer skal vi nok plusse på noen kroner ekstra på kursen, det er jo forsåvidt ikke helt urealistisk heller selv om jeg tror dette løses med et forlik inneværende år. Uansett så med det vi har nå og vet kommer skal nok pnor opp å lukte på 3kr ila 2021.