Ghana sweet-spot beside Tullow: Offshore/Onshore Tano Block

The concession was awarded to a Ghanian company 'Pan Andean Resources Limited' which is owned by:

30% Petrel Resources plc
30% Persian Gold plc
30% Hydrocarbon Exploration plc
10% Ghanaian interests (Abbesy Oil & Gas plc)

We await ratification of the amended Petroleum Agreement by Cabinet and Parliament, in accordance with law.

Ghana - Tano Basin AGM Presentation (PPT - 9MB)

Click on map below to enlarge

• The combined group controls 60% Working Interest and is the operator of the Offshore/Onshore Tano Block
• Held via Ghanaian vehicle ('Pan Andean Resources Limited') in accordance with law
• Block size:  c. 1,500 km2 (150k hectares)
• Basin:  Tano
• Geological Target:  Cretaceous
• Potential :  multi-billion barrel recoverable

Fiscal terms in Ghana are competitive, particularly after recent exploration success: