ERHC Energy Inc (ERHE)

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STP News: New tender for oil blocs launched this year [ 2008-04-24 ]

Lisbon, Portugal, 24 April – The prime minister of Sao Tome and Principe, Patrice Trovoada, said Wednesday in Lisbon that by December a new tender for oil blocs would be ready to be launched.

Trovoada, who was speaking to Portuguese news agency Lusa on the last day of his official visit to Portugal, said that although conditions had been established to launch a tender for oil blocs in Sao Tome and Principe’s exclusive economic area before the end of the year, the tender may be delayed until the first quarter of next year due to problems beyond the Sao Tome authorities’ control.

"We have to see what the other countries are doing, see what rounds of licensing are due in Angola, Nigeria and the Gulf of Guinea. We have to choose the right moment. It has little to do with our level of preparation,” he noted.

Next week, the company responsible for seismic studies in the Sao Tome exclusive economic area will be in Sao Tome and, once this phase has been concluded, the usual promotion of the tender in the main world oil markets will be needed. (macauhub)