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Published On: Mon, Nov 11th, 2019

Somaliland: Genel Energy ups its stake in block SL10B13 to 100%

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Cape Town (ANN)-A presentation on the Somaliland opportunity, given last week at the Africa Oil Week conference in Cape Town, is available on the Genel website

Stellar Energy Advisors is running the farm-out process

Genel Energy PLC (LON:GENL) has bought out its partner in the SL10B13 block, onshore Somaliland.

The company acquired East Africa Resource Group’s 25% stake for an undisclosed sum.

As previously announced, a farm-out process relating to the block is now underway.

Interpretation of the 2018 2D seismic data together with basin analysis has identified multiple stacked prospects, with each of them estimated to have resources of around 200mln barrels of oil.

A further programme of surface oil seep sampling and analysis reiterates the presence of a working petroleum system on the block, Genel said.

Source: proactiveinvestors.co.uk

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- Arraale Mohamoud Jama Freelance Journalist and Human Rights Activist Arraale, is a 20 year experience as a professional Journalist and human rights activist Over the years, worked for the major News Papers in Somaliland as a reporter, editor and contributor. 2008 established website Araweelo News Network, he currently runs a web site based in Somaliland. who is the specializes in the investigation and reporting on issues relating to human rights, democracy, and good governance. contact: Info@araweelonews.com jaamac132@gmail.com Send an SMS or MMS to + 252 63 442 5380 WhatsApp + 252 65 910 7347.

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Araweelo is an Associated Network News, The most trusted source for news & Political,investigator report,Human Rights Issues,Educations,Social and Democracy ,Latest News Horn of Africa. runs Arraale Mohamoud Jama Freelance Journalist and Human Rights Activist based in Somaliland.

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