OCTPS-East, Ghana – 2014 summary



ACCRA, Ghana — RoyalGate Energy acquired the Offshore Cape Three Points South East (OCTPS-East) Block in early 2014, with a petroleum agreement ratified by resolution of the Ghanaian parliament on July 18. RoyalGate Energy is the operator, with partners UB Resources (a subsidiary of UB Group) and Houston Drilling Management.


RoyalGate Energy announced that it had entered into partnership with UB Group for the OCTPS-East Block on April 7, 2014. Both companies have the requisite technical and financial capacity/capability required to successfully develop this asset.


The OCTPS-East Block has water depths of between 1,000 and 2,000 meters and occupies an area of approximately 755 square kilometers. It is located in the Tano – Cape Three Points basin.


RoyalGate Energy Ltd. 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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