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OPL 291

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Owner: Starcrest Nigeria Energy Ltd

Shore Type: offshore

Block Rights: OPL

OPL291 is located approximately 130 km off the Nigerian coast in water depths ranging from approximately 1,000 to 2,300 m. The highly prospective nature of the property is underlined by its proximity to the nearby world-class Agbami oil field in an adjacent block, which is currently under development by Chevron. OPL291 represents the mandatory relinquishment area following conversion of OPL216 to OML127 prior to development of the Agbami field in OML127.

Working Interests

Addax Petroleum | 72.500%

*Starcrest Nigeria Energy Ltd | 27.500%

Oil Fields

Field Name

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-

Updates

Addax Relinquishing Operatorship of OPL 291

16th April, 2013

hexgear

After carrying out 3-Dimensional seismic survey of the block in 2011, Addax Petroleum was said to have found from the studies and interpretations of the data that there was no commercial find.

A source close to Addax told THISDAY that the company actually discovered that the block contains crude oil but not in commercial quantity.

Source: http://www.thisdaylive.com/articles/why-addax-petr...

Chinese oil firm Sinopec buys Addax for £4.4bn

24th June, 2009

hexgear

The deal is the latest in China's efforts to secure overseas resources to reduce its reliance on domestic production and gives the country access to Iraq's oil reserves. Addax has operations in Gabon, where Sinopec has been involved in oil exploration, as well as in Nigeria and Cameroon.

Source: http://www.theguardian.com/business/2009/jun/24/oi...

Addax acquires interests in OPL 291

1st October, 2006

hexgear

Addax Petroleum acquired a 72.5% interest in, and operatorship of, OPL291 in October 2006 from Starcrest Nigeria Energy Limited, who retained the remaining 27.5% interest. OPL291 was tendered by the Nigerian government under the 2006 mini bid round and was originally awarded to Starcrest. Addax Petroleum acquired approximately 1,500 km2 of 3D seismic over the northern portion of OPL291 in order to further define the Merlin and Emrys prospects as well as to add to the licence area’s prospect inventory.

Source: https://www.addaxpetroleum.com/operations/nigeria

The CPC Starcrest Consortium

19th May, 2006

hexgear

CPC Starcrest is a consortium made up of Starcrest Nigeria backed by Business Mogul; Sir Emeka Offor and Taiwan's Chinese Petroleum Company (CPC). According to the Corporate Affairs Commission (CAC), Abuja Starcrest Nigeria Energy was registered on May 19, 2006 with its head office at No. 22 Lobito Crescent, Wuse II, Abuja.

Source: http://investorshub.advfn.com/boards/read_msg.aspx...

OPL 291 Granted to Starcrest

1st January, 2006

hexgear

Starcrest granted OPL 291 in 2006 with Emeka Offor, Gidado Idris and Yzoni Yaw as directors.

Source: http://osae-brown-insights.blogspot.com/2012/03/ni...

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