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Gabon Offshore Ascent stake: 1.75% Net profits interest Oil
Project Background Partners
  • July 2005: Sale of 12.86% interests in the Iris Marin and Themis Marin production sharing contracts (PSC) to AIM-listed Afren Plc. Ascent generates a significant cash return on its investment, receiving £684,000 reimbursement of back costs, 404,350 new shares in Afren and 1.75% net profits interest in each of the two PSCs.
  • March 2005: Ascent Resources acquires two wholly-owned subsidiaries of Hardman Resources. These newly-acquired companies hold a 12.86% participating interest in the Iris Marin PSC and the Themis Marin PSC.
  • Offshore shallow water oil exploration
  • Gabon is an established oil producing nation - 3rd largest West African oil exporter c.250,000 bopd, good infrastructure
  • The two licences cover 902 sq km and 607 sq. km
    		• Sterling Energy 20.57%
    Premier Oil 18.00%
    Petro Oil & Gas SA 22.86%
    Pan-Ocean Energy Corp. 25.71%

     


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    Geological setting of hydrocarbon accumulations in S.Gabon

    Geological cross section offshore Southern Gabon

    Top Ezanga Salt Grid

    With salt trends and areas where salt has been evacuated.

    Ezanga Salt from 3D seismic
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