OTCPK:MAUXF - Post by User
Post by
bobby1231on Apr 01, 2013 10:33pm
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Post# 21195756
OER M&A Today
OER M&A Today On November 12, 2012, OER was informed by NAOC of evidence of leakages on the 10 inch Kwale-Akri oil delivery
line, causing NAOC to temporarily close the pipeline. NAOC was unable to inspect the line to determine the extent of
damage, as flooding due to bad weather caused the area to be inaccessible. All production evacuated through this
pipeline was temporarily shut in pending NAOC’s ability to access, inspect and repair the line. On December 11, 2012,
OER announced that assessment efforts had revealed that the pipeline would require a partial replacement. Production
and injection re-commenced on December 24, 2012 and continued through to February 14 2013, when it had to be
stopped again due to rupture in the pipeline. All efforts to effect repairs have not been successful to date and NAOC
formally declared a force majeure on March 21, 2013. It is expected that this will be in effect until at least the second
week of April. Production from the Ebendo Field (OML 56) is evacuated through this pipeline to the Brass export
terminal