Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Nigeria’s Atlas Petroleum sells 11% stake in E’Guinea block

    Nigeria’s Atlas Petroleum sells 11% stake in E’Guinea block

    October 3, 2011
    Share
    Facebook Twitter LinkedIn WhatsApp

    3 October 2011, Sweetcrude, Malabo – London-based venture company, White Rose Energy, has further increased its stake in Equatorial Guinea’s Block H to 48.75%.

    The company is farming in to the project via acquisition of 11.25% interest from Nigeria’s Atlas Petroleum.

    In August, Perth-based Roc Oil farmed down its stake in Block H from 37.5% to 20%, handing over the interest and technical operatorship to White Rose.

    The Australian-listed company has been selling off its African assets this year as part of an effort to concentrate on opportunities in China, South East Asia and Oceania.

    The first exploration well is due to be drilled at Block H’s Aleta prospect next year.

    The players involved say there are several prospects and leads within the block, where the production sharing contract has been extended to February 2013.

    Atlas will retain 25% interest in the project to Roc Oil’s 20% and Swedish independent PA Resources’ 6.25%.
    GEPetrol retains a right to assume a 5% interest.

    White Rose Energy Ventures was set up by former BP executives with backing from US investment outfit First Reserve Corporation.

    The startup aims to build a portfolio of upstream oil and gas assets in west Africa.

    Related News

    ‘OPEC oil output rises in May but compensation cuts limit hike’

    Chevron CEO warned staff of rising safety issues before fatal Angola platform fire

    Oil prices steady ahead of US-China trade talks

    E-book
    Resilience Exhibition

    Latest News

    Shipping firms dodges $900m cost, as Nigeria hit by empty container glut

    June 9, 2025

    ‘OPEC oil output rises in May but compensation cuts limit hike’

    June 9, 2025

    Chevron CEO warned staff of rising safety issues before fatal Angola platform fire

    June 9, 2025

    Oil prices steady ahead of US-China trade talks

    June 9, 2025

    Kwairanga reiterates NGX’s commitment to deepening Nigeria’s capital market

    June 9, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.