RE:Block One Relinquished ????Hi cocoon1, the terms in the Kenyan PSC's demand 25% of each block be gazetted back to the Kenyan governement. (Relinquished) After 2 years of exploration.
The company's get to choose which 25% of their blocks they are uninterested in exploring - the government then resells these "relinquished" portions of the blocks as new blocks, creating more revenue, fees, etc.
I wonder if that means TPN is no longer the "fourth largets acreage holder" in Kenya? lol ;-)
All the companies have to adhere, even AOI gave up part of blocks 10BB & 13T which is where the discoveries were made!!
https://www.reuters.com/article/2013/02/12/kenya-oil-idUSL5N0BCHWE20130212