GUINEA
New American in Onshore
As the American firm Hyperdynamics attempts to recover its concession in Guinea - so far unsuccessfully - a new U.S. concern has been awarded acreage.
Africa Energy Intelligence understands the U.S. firm Summa Corporation was awarded a reconnaissance license for one year from Guinea’s Mines and Geology ministry last month. The reconnaissance permit covers the Boffa area some 150 km north of Conakry in the Sassou region.
Located on Guinea’s on-shore, the region is said to have similar geological features to those in parts of Venezuela where Summa already operates.
Managed by the Texas lawyer William Lummis, Summa was once part of the holding company of late tycoon Howard Hughes, heir to the Hughes Tools Company that was sold in 1972 to Baker International, becoming Baker Hughes. At Howard Hughes’ death, the property interests of Summa were sold to Rouse Company which was itself bought out in 2004 by General Growth Property.
However, the remaining oil interests of Summa remain in the hands of Lummis, a distant cousin of Hughes and the executor of his will. .
In addition to Summa, South Korea’s F&F Company and Pilatus Energy of Switzerland are in talks with the Guinean authorities. The geophysics group Western Geco, an affiliate of Schlumberger, has equally made contact with Conakry to negotiate an eventual partnership.
...
...