Block Y, Equatorial Guinea – 2013 summary



MALABO, Equatorial Guinea — RoyalGate Energy’s production sharing contract with the Ministry of Mines, Industry and Energy (MMIE) for Block Y was ratified on April 9, 2013. The deal had been signed on December 15, 2012.


Xuan Energy is the operator of Block Y, with partners Strategic Oil & Gas Resources and Brenham Oil & Gas. GEPetrol, the national oil company of Equatorial Guinea, holds a carried interest.


The partners made the signature bonus payment to the MMIE through Xuan Energy on June 10. Lease and surface rental fees payments were made to the MMIE on August 7.


RoyalGate Energy is an Africa-focused independent oil company with assets in Equatorial Guinea and Ghana and offices in Houston, Lagos, Accra, Malabo and Luanda. The company is building a strong portfolio of assets across the continent, investing in the countries and communities in which it operates, and contributing to the sustainability of Africa’s energy industry.


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