The directors of Clontarf (AIM: CLON) have advised shareholders that, further to an announcement of 22nd June 2016, Clontarf and its partners have now met for discussions with Ghanaian officials. Negotiations are now underway in relation to possible award of acreage in respect of the company's prior application on deepwater Tano Basin acreage as well as replacement acreage for the signed Petroleum Agreement on Tano 2A Block.
No assurances can be given that such negotiations will lead to a successful outcome for the company.
The Ghanaian affiliated company, Pan Andean Resources (Ghana) Limited, is a private Ghanaian company held 60% Clontarf, 30% by Petrel Resources and 10% local Ghana interests.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For more information, please visit: http://clontarfenergy.com
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/08092016/clontarf-energy-provides-update-on-negotiations-for-deepwater-tano-basin-acreage/