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Energy Africa buys 32% stake in oil block.
(From Business Day (South Africa))
Byline: Dave Marrs
Energy Africa buys 32% stake in oil block Cape Editor CAPE TOWN - Energy Africa, the oil exploration group which is subject of an offer to minorities by controlling shareholder Petronas, has acquired a 32% interest in Block 1 offshore Mauritania.
The block is located south of Block 4, where the recent Chinguetti 2 appraisal well is reported to have intersected a gross hydrocarbon column of 94 metres, and directly south of Block 2, in which Energy Africa acquired a 20% equity interest in February.
The farm-in deal, which was struck with block operator Dana Petroleum but remains subject to …
