SEPLAT Completes Acquisition of a 45% Stake in OMLs 4, 38 and 41 in Nigeria
PARIS, August 2, 2010 /PRNewswire-FirstCall/ -- SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD (SEPLAT) has last Friday, July 30th, achieved the definitive completion of its acquisition of a 45% stake in OMLs 4, 38 and 41, onshore Nigeria, from SHELL PETROLEUM DEVELOPMENT COMPANY of NIGERIA Ltd (SPDC), TOTAL E&P NIGERIA Ltd, and NIGERIA AGIP OIL COMPANY. MAUREL & PROM owns a 45% stake in SEPLAT, a Nigerian-registered company.
With the commissioning of metering systems during the month of August 2010, global production from these OMLs is expected to be 52,000 bpd of fluids (with approximately 30,000 bpd of crude oil) and 120 mmscf of natural gas, of which SEPLAT's allocation will be 45% of the global production, with a royalty rate of 20% for oil and of 7% for gas. Consequently M&P allocation after royalties will be 16.2% of the global production of oil and 18.83% of the gas production.
For further information: http://www.maureletprom.fr
This press release may contain forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Maurel & Prom. By their nature forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. These forward-looking statements are based on assumptions which we believe are reasonable but that could ultimately prove inaccurate and are subject to a number of risk factors, including but not limited to price fluctuations in crude oil; exchange rate fluctuations; uncertainties inherent in estimating quantities of oil reserves; actual future production rates and associated costs; operational problems; political stability; changes in laws and governmental regulations; wars and acts of terrorism or sabotage.
Maurel & Prom is listed on Euronext Paris - compartiment A - CAC mid 100 Indice Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA Next Meetings 08/03/2010 1st Half Sales 08/30/2010 2010 First Half Results Contact: INFLUENCES +33(0)1-42-72-46-76 [email protected]
SOURCE Maurel & Prom
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article