Gondwana Oil (CSE:GO) has issued a statement to comment on the trading halt and the press release of the Ghanaian ministry of energy which stated the company did not acquire a right to negotiate exclusively to gain an interest in the offshore oil block at Cape Three Points.
According to Gondwana, people at its 70% owned subsidiary Miura Petroleum are in constant discussions with the Ministry of Energy to clarify and rectify this situation and another statement is expected before Thursday.
As said in our previous blog post, we were surprised by the announcement of the Ghanaian ministry as we did effectively see the letter wherein the deputy minister invited Miura Petroleum to negotiate the acquisition of the block on an exclusive basis and as all people involved in Gondwana Oil have so much more to lose than to gain. This is an interesting and unique situation and we’re looking forward to the clarifying statement later this week.
> Click here to read the press release
Disclosure: The author holds no position in Gondwana Oil. Gondwana is not a sponsor of the website but we were compensated by a third party to initiate coverage. Please see our disclaimer for current positions.
