African Petroleum has announced that the exclusivity granted to PetroChina to purchase a stake in exploration blocks in a variety of African countries has now expired
The MoU between the two companies granted PetroChina exclusivity to agree an investment in up to 20 per cent of African Petroleum’s Block LB-09 in Liberia and up to 20 per cent in one or more exploration blocks in Cote d’Ivore, the Gambia, Liberia, Senegal and Sierra Leone.
Despite the expiry of the exclusivity period, African Petroleum has stated that it is continuing its negotiations with PetroChina in a positive manner in view of a potential investment.
Shareholders will be kept informed of developments.
