OTCPK:MAUXF - Post by User
Post by
gibbonsjon Apr 15, 2015 12:28pm
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Post# 23632168
OML18 numbers
OML18 numbers 1/ The acquisition was completed pursuant to an Assignment Agreement between the Sellers and Eroton Exploration & Production Company Limited ("Eroton"), a special purpose company owned directly or indirectly by the Consortium members. The remaining 55% participating interest of OML 18 is owned by the Nigerian National Petroleum Corporation.
2/ Mart holds an indirect working interest in OML18 of approximately 10% through its share ownership of Martwestern Energy Limited that in turn owns 50% of the shares of Eroton.
3/ the assigned fields produced an average of approximately 14,000 gross barrels of oil equivalent per day of oil, condensate and gas during 2014.
If NNPC holds 55% then the Eroton Group's share of production is only 6300 bepd of which MMT's share is 10% or 630 bepd.