Sierra Leone 4th Licensing Round Pre-Announcement

RNS Number : 7669U

GETECH Group plc

27 October 2017

 

Getech Group plc

("the Getech Group" or the "Company")

Sierra Leone Fourth Licensing Round Pre-Announcement 

The Director General of the Petroleum Directorate of Sierra Leone (PDSL), Raymond Kargbo, announced at this week's Africa Oil Week Conference in Cape Town, South Africa, that his country's Fourth Offshore Petroleum Licensing Round will take place between mid-January and the end-May 2018.

This License Round will be exclusively supported by the Getech Group (AIM; GTC), through its wholly owned subsidiary ERCL.

ERCL and the Petroleum Directorate have worked together since 2016 to provide the data that investors will require to review Sierra Leone's proven prospectivity. Through Data Rooms in Freetown and London, investors can access a huge range of technically-rich information, including:

•              15,000 line km of 2D seismic

•              >10,000km2 of 3D seismic (including PSDM volumes)

•              all wells from the 2009-2013 drilling campaigns, which produced four discoveries

The 3D seismic data and wells are available to license from the PDSL and will be delivered by ERCL.

Also available to licence are a number of value-added products, built by the Getech Group using the Government's released 3D seismic and well database. These include the Sierra Leone Digital (GIS) Atlas and Sierra Leone Petroleum Geology Report. In addition, the Getech Group's large potential fields database and regional reports are also available to assist in evaluating the Sierra Leone margin.

Jonathan Copus, CEO of the Getech Group commented:

''The Getech Group is proud to be working in partnership with the Petroleum Directorate of Sierra Leone during this exciting new phase for the country's petroleum sector. Located on a margin that is bookended by major discoveries in Senegal/Mauritania and Ghana, Sierra Leone's offshore waters contain proven petroleum systems that we believe to be conjugate to major discoveries in South America. As exploration interest steps up in the neighbouring waters of Guinea, potential investors are able to access an extremely high quality technical database to assist in their evaluation of the undoubted potential of the Sierra Leone margin. We look forward to the Fourth Licensing Round and assisting the Directorate in attracting investment in the upstream petroleum sector of Sierra Leone''

Interested parties should contact Raymond Kargbo Director General of the PDSL ([e-mail]) or John Clark at ERCL ([e-mail])

For further information, please contact:

Getech Group plc Jonathan Copus, Chief Executive		Tel:  [phone]
WH Ireland Limited Katy Mitchell		Tel:  [phone]

Notes to Editors:

The Getech Group is a leading AIM-listed supplier of products and services to companies and governments working with natural resources. We provide knowledge, expertise and insight that allows our growing customer base in the oil and gas, mining, nuclear and water industries to make better decisions. ​

For more information, please visit our website at www.getech.com.

This update refers to a contract in the ordinary course of business for Getech.

 

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