Here is information straight from CEPSA website. Don't know if this will clear up any arguments as far as drilling time line.
CEPSA acquires 55% of an exploratory block in Kenya
This acquisition represents CEPSA E&P´s entry in Kenya, via an onshore exploration operated position
CEPSA has acquired a 55% share in an onshore exploratory block in the Turkana region of north-western Kenya. CEPSA will now operate Block 11A. The US based-corporation ERHC, and the State-run National Oil Corporation of Kenya (NOCK) will be our partners, with 35% and 10% respectively.
CEPSA adquiere el 55% de un bloque exploratorio en Kenia
The agreement, made after securing all necessary approvals from the Government of Kenya, includes participating in the acquisition of 1,000 kilometres of 2D seismic prospecting in 2014. Based on the outcome, CEPSA will be able to continue with the exploratory work by committing to acquire further seismic prospecting or drilling its first well before September 2016.
This acquisition, which is part of CEPSA's strategy to expand and diversify its exploratory portfolio, is its first venture into Exploration and Production in East Africa.
CEPSA is an energy group which is wholly owned by IPIC, employing more than 10,000 people and operating at every stage of the hydrocarbon value chain. It is engaged in petroleum and natural gas exploration and production activities; refining, transport and sale of crude oil and natural gas derivatives; biofuels, cogeneration and electricity sales. CEPSA has an important petrochemicals division which is closely integrated with its oil refining activities. The company manufactures and markets raw materials for producing high added-value products used mainly to produce new generation plastics and biodegradable detergent. CEPSA has a notable presence in Spain and by gradually internationalising its activities, it is now working in Algeria, Brazil, Canada, Colombia, the United Arab Emirates, Malaysia, Panama, Peru, Portugal, Surinam and Thailand, selling its products all over the world.
Madrid, 10 de febrero de 2014
CEPSA- Dirección General de Comunicación y Relaciones Institucionales
comunicacion@cepsa.com
Tel: (34) 91 337 62 02
www.cepsa.com
CEPSA acquires 55% of an exploratory block in Kenya CEPSA acquires 55% of an exploratory block in Kenya (pdf; 117.62 KB)
