PARIS, March 15, 2012 /PRNewswire/ --
Maurel & Prom is pleased to announce that the Government of
Namibia has awarded to Maurel
& Prom and co-venturers, two exploration licenses in the Walvis
basin, offshore Namibia (up to
2,500m water depth).
The Group has a participating interest in License No 0044 (Block
2212B) and License No 0045 (blocks 2313A, 2313B, 2413A) located as
shown in the map.
Maurel & Prom Namibia is the operator of both licenses with
37% of participating interest, in partnership with PGS Seismic UK
Ltd. (48%), National Petroleum Corporation of Namibia (8%), Livingstone Mining Resource
Development (4%), and Frontier Mineral Resources (3%).
The First Exploration Sub Period shall be for two years with a
minimum exploration work of 600 km and 1,800 km of 2D seismic
acquisition, for License No 0044 and License 0045 respectively.
Minimum exploration work for a Second Exploration Sub Period of
two years would include 3D seismic acquisition (100sqkm on License
No 0044 and 300sqkm on License No 0045).
Seismic acquisition with GeoStreamer and Geosource would be
operated by the co-venturer PGS.
This document may contain
forward-looking statements regarding the financial position,
results, business and industrial strategy of Maurel & Prom. By
nature, forward-looking statements contain risks and uncertainties
to the extent that they are based on events or circumstances that
may or may not happen in the future. These projections are based on
assumptions we believe to be reasonable, but which may prove to be
incorrect and which depend on a number of risk factors such as,
fluctuations in crude oil prices, changes in exchange rates,
uncertainties related to the valuation of our oil reserves, actual
rates of oil production and the related costs, operational
problems, political stability, legislative or regulatory reforms,
or even wars, terrorism and sabotage.
Maurel & Prom is listed for trading on Euronext Paris -
Compartment A ‐ mid 60 - SBF120® - CAC® Mid & Small - CAC®
All-Tradable - CAC® All-Share
Isin FR0000051070 / Bloomberg MAU.FP / Reuters
MAUP.PA
For more information: http://www.maureletprom.fr
Communication:
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