EQUATORIAL GUINEA

RoyalGate Energy operates Block Z, with plans to develop its gas reserves, and holds an interest in Block Y in Equatorial Guinea.

RoyalGate Energy signed production sharing agreements with the Ministry of Mines, Industry and Energy for Block Y and Block Z in April 2013. In 2014, we entered discussions with the government and contractors to further explore Block Z and develop numerous prospects.

Along with private sector partners and state oil company GEPetrol, RoyalGate Energy is undertaking exploration programs to identify leads and prospects in both blocks. In Block Z, where we are the operator, data has been acquired and four prospects mapped with a view to drilling a first well. In Block Y, we are working with operator Xuan Energy to explore this promising acreage.

Equatorial Guinea’s oil production increased rapidly after the discovery of the Zafiro field in 1995, and peaked at 376,000 barrels per day in 2005. As legacy oil producing fields’ output declines, the country has sought oil and gas companies with the commitment and technical knowledge necessary to find and develop new fields and value-added projects. Our market knowledge and business model allow us to quickly grow prospect inventory, implement exploration and appraisal drilling programs, and attract top-tier partners to develop opportunities in this Gulf of Guinea petroleum province.

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