ShoreCan closes on Nigerian shallow fast-track candidate

摘要

ShoreCan expects to close a deal within weeks for a block offshore Nigeria where existing reserves could be quickly developed. The joint venture between Shoreline and Canadian Overseas Petroleum is set to take 80% of shallow water OPL 226 which contains the Noa discovery only a few kilometres from the Anyala field. A back stop date has been set at 14th April and only ShoreCan has the right to terminate at that point, ShoreCan has elected not to terminate. The company previously said it was closing a deal on a block that was an: "oil appraisal/development project offering near term oil production," but declined to give further details.