Cove Energy gets Tanzania Government approval for Mnazi Bay farm-in
26 November 2009
Cove Energy, the AIM quoted upstream oil and gas company, has received Tanzania Government approval for its plans to farm-in to Artumas Group's Mnazi Bay Production Sharing concession.
The deal was first announced in September when Cove launched a £42 million share placing to fund its development plans. At the time, the company said it had agreed a deal with French group Maurel & Prom that would see the two sides farm-in to three oil and gas interests held by Canadian company Artumas.
The three interests include the Mnazi Bay project, along with Area 1 Rovuma Offshore and the Rovuma Onshore Block, both in Mozambique. Cove is paying US$3.3 million for its share and M&P is paying US$7.7 million for its share.
For Cove, today’s deal gives it contingent gas resources of approximately 124 billion cubic feet. Gas production is currently being sold to the nearby Mtwara power station through existing production infrastructure.
Together with M&P it is planning further exploration work over the 756 sq km concession in 2011, including a 200 sq km 3D seismic survey and one exploration well.
|
Relevant Companies
For more company information click below:
Headlines
31 August 2010
30 August 2010
27 August 2010
20 August 2010
18 August 2010
13 August 2010
09 August 2010
06 August 2010
30 July 2010
29 July 2010
28 July 2010
27 July 2010
26 July 2010
23 July 2010
23 July 2010
22 July 2010
21 July 2010
19 July 2010
16 July 2010
12 July 2010
09 July 2010
08 July 2010
07 July 2010
06 July 2010
05 July 2010
02 July 2010
06 May 2010
13 April 2010
24 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
23 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
22 March 2010
19 March 2010
19 March 2010
» See all News
Features
31 August 2010
28 July 2010
23 July 2010
13 April 2010
24 March 2010
22 March 2010
19 March 2010
19 March 2010
18 March 2010
16 March 2010
15 March 2010
12 March 2010
11 March 2010
08 March 2010
05 March 2010
05 March 2010
» See all Features
Round-Ups
27 August 2010
20 August 2010
13 August 2010
06 August 2010
30 July 2010
23 July 2010
16 July 2010
09 July 2010
02 July 2010
19 March 2010
19 March 2010
12 March 2010
12 March 2010
05 March 2010
05 March 2010
28 February 2010
Popular
31 August 2010
28 July 2010
30 August 2010
27 August 2010
04 December 2009
18 August 2010
30 July 2010
26 July 2010
29 July 2010
20 August 2010
01 February 2010
23 March 2010
08 July 2010
19 July 2010
27 July 2010
09 August 2010
|