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Clontarf and Petrel happy with Tano block resizing offshore Ghana

13th October 2014

Pan Andean RResources, led by its main stake-holder Clontarf Energy, has settle its dispute over the Tano block offshore Ghana with an agreement to resize the block to preserve its acreage

Clontarf and Petrel happy with Tano block resizing agreement offshore Ghana
The agreement is between Pan Andean Resources (60 per cent Clontarf, 30 per cent Petrel Resources and 10 per cent local interests) the Ghana National Petroleum Corporation and the government of Ghana

“This solution is satisfactory for the company and brings the company's interests in acreage closer to existing discoveries,” Clontarf has said in a statement.

“As announced in July 2014, it was agreed that additional, contiguous acreage will be added to preserve the size of the block, and a revised activity map has been circulated.”

The agreement is between Pan Andean Resources (60 per cent Clontarf, 30 per cent Petrel Resources and 10 per cent local interests) the Ghana National Petroleum Corporation and the government of Ghana.

The Pan Andean consortium brought the issue to the Ghanaian government in April due to an overlapping of exploration rights with Camac Energy at the Ghana Tano 2A block.

The agreement has reallocated acreage to the Pan Andean consortium.

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