Africa Energy places bet on Tullow Namibia wildcat

摘要

Africa Energy Corp (AEC) has placed a significant bet by farming into acreage off Namibia where Tullow Oil is due to drill a commitment well by the end of the next quarter. The Lundin Oil subsidiary was set up to take advantage of the downturn in the oil sector with the aim of building an Africa focussed E&P company over the next two years. It recently finalised a deal to take a shallow water block off South Africa (see AOG 3 November) and has now taken a 10% stake in PEL 37 in the central Walvis Basin off Namibia.