Scandinavian Oil-Gas Magazinehttp://www.scandoil.com/moxie-bm2/news/sterling-energy-completes-acquisition-of-an-intere.shtmlSterling Energy completes acquisition of an interest in Block C-10Sterling Energy says that completion has now occurred under the sale and purchase agreement between its wholly owned subsidiary, Sterling Energy Mauritania Limited(‘SEML’) and Tullow
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Edit page New page Hide edit links Sterling Energy says that completion has now occurred under the sale and purchase agreement between its wholly owned subsidiary, Sterling Energy Mauritania Limited(‘SEML’) and Tullow Mauritania Limited (‘Tullow’) to acquire a 13.5% working interest in the production sharing contract for Block C-10, located offshore in the Islamic Republic of Mauritania (the‘PSC’). Block C-10 lies in water depths of 164 feet to 7,874 feet and the PSC, awarded in 2011, is currently in the second phase of the exploration period. Phase 2 of the PSC is due to expire Nov 30, 2017 and has a minimum work obligation of one exploration well. Following the completion of Phase 2, the PSC joint venture may elect to enter into Phase 3, which has a minimum work obligation of two wells. |