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Thursday, February 07, 2013 9:48:03 PM
Big news from Belize today.
An updated concession map issued by Government of Belize dated November 2012 shows that Princess Petroleum have relinquished almost 500,000 acres of the offshore part of their oil concession including the Northern part of Turneffe and the whole of Lighthouse Reef.
They continue to hold 200,000 acres onshore and 1.3 million acres offshore with average water depth of 4500 feet (depths ranging from 0 to 12000 feet).
The November 2012 concession map (and the previous June 2012 for comparison) are shown in the pictures below. Pricess Petroleum's concession areas are shown in purple in these maps.
What rights Treaty have to any of this acreage is subject to the terms of the Option Agreement between Princess Petroleum Limited and Treaty Energy Corporation dated April 20th 2010 and executed in Panama.
An updated concession map issued by Government of Belize dated November 2012 shows that Princess Petroleum have relinquished almost 500,000 acres of the offshore part of their oil concession including the Northern part of Turneffe and the whole of Lighthouse Reef.
They continue to hold 200,000 acres onshore and 1.3 million acres offshore with average water depth of 4500 feet (depths ranging from 0 to 12000 feet).
The November 2012 concession map (and the previous June 2012 for comparison) are shown in the pictures below. Pricess Petroleum's concession areas are shown in purple in these maps.
What rights Treaty have to any of this acreage is subject to the terms of the Option Agreement between Princess Petroleum Limited and Treaty Energy Corporation dated April 20th 2010 and executed in Panama.
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