Enigma gets Namibia license extensions

Enigma Oil & Gas Exploration has received government approval to extend the initial exploration phases of its licenses offshore Namibia.

Offshore staff

LONDON -- Enigma Oil & Gas Exploration has received government approval to extend the initial exploration phases of its licenses offshore Namibia.

The initial exploration periods for blocks 2312 A & B and 2412 A & B (Northern halves) (license 0019) and block 2714A (license 0020) will now end in August 2011.

The initial exploration periods for blocks 1811A & B (license 0014) and block 2714B (license 0015) will now end in October 2010. All other terms of the licenses remain unaltered.

The 3D seismic acquisition operations in southern block 2714A, undertaken in partnership with Petrobras, are complete; data processing and interpretation is now under way.

“The approvals of extensions to our licenses provides us with a longer period in which to progress our technical analysis and farm-out discussions with interested parties, prior to entering the first renewal phase,” says James Burgess, CEO of Enigma’s parent company, Chariot. “The seismic acquisition programs across all our offshore blocks have been undertaken to specifically mature the best locations for a potential drilling campaign.”

09/29/2009

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