Middle East Economic Survey
VOL. LIII
No 25
21-Jun-2010
SOMALIA
Red Emperor Agrees Preliminary Farm-In Deal With Africa Oil For Puntland Blocks
Australias Red Emperor Resources has signed a letter of intent (LOI) with Canada-based Africa Oil Corporation to acquire a participating interest in the Dharoor and Nugal Valley blocks in the northeastern Somali region of Puntland, it said on 15 June. Under the terms of the LOI, Red Emperor will pay a disproportionate share of costs related to a one-well...
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