Block III, Albertine Graben, Democratic Republic Of Congo Licence Extension To July 2020
EFORA ENERGY LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
(“Efora” or “the Company”)
BLOCK III, ALBERTINE GRABEN, DEMOCRATIC REPUBLIC OF CONGO – LICENCE EXTENSION TO JULY 2020
Efora is pleased to announce that the Company has obtained a further licence extension for Block III in the Democratic Republic of Congo (DRC), which extends the licence until July 2020. This allows us additional time to review the technical data to determine the area that will be the subject of the renewal of the licence in July 2020. We are also awaiting confirmation of the revised contractual terms that will be the subject of the renewal which have already been negotiated with the DRC government.
Efora’s Interim CEO Mr Matroos said:
“Block III represents an exciting opportunity for the Group and the extension provides us with additional time to consider the data on the block and the economic prospects of the significant resource potential that has been identified to date.”
22 November 2019
For further information please contact:
Efora Energy Limited
+27 (0)10 591 2260
Efora Energy Limited is a South African based independent African oil and gas company, listed on the JSE. The Company has a diverse portfolio of assets spanning production in Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project relating to crude trading in Nigeria and material downstream distribution operations in South Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s own resources to meet the significant growth in demand expected over the next decade.
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