Sunday, February 28, 2010 9:30:50 AM
Here's google's translation:
Portuguese to English translation
PRESS
1 - National Petroleum Agency is pleased to announce that as part of preparations for the holding of the 1st Auction Block Exclusive Economic Zone, companies Equator Exploration ERHC and exercised the right of preference and choice, prior to launching 1st auction of the exclusive economic zone, and selected for this purpose the following Blocks:
Equator Exploration Block 5 (Area A) and Block 12 (Area B)
ERHC Block 4 (Area A) and Block 11 (Area B)
The rights of preference and choice of these companies fall under the agreements signed with the State Santomean; with ERHC in 1997 and renegotiated in 2001 and 2003, with Equator Exploration in 2001 and renegotiated in 2003.Os selected blocks are subject to negotiation of contracts for production sharing in strict compliance to the program of work to be negotiated in the light of existing legislation.
2 - Having resolved the question of acquired rights as set out the agreements, the Government selected the following seven (7) Blocks Bid to offer:
Zone A Blocks 1, 2, 3 and 6
Zone B Blocks 7, 8 and 13
3 - Opening the Auction will be on March 02, 2010 and closing on September 15, 2010.
4 - For more information on the 1st auction blocks of EEZ, see
www.stp-eez.com
5 - The ANP-STP aims to exploit the hydrocarbon resources of the country, promoting their use in a sustained way and with a great concern for the preservation of the environment.
Sao Tome, February 19, 2010.
C. Luis Alberto Prazeres
CEO
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