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EFORA ENERGY LIMITED - Block III, Albertine Graben, Democratic Republic of Congo Licence Extension to July 2020

Release Date: 22/11/2019 14:51
Code(s): EEL     PDF:  
Wrap Text
Block III, Albertine Graben, Democratic Republic of Congo – Licence Extension to July 2020

(Incorporated in the Republic of South Africa)
(Registration number 1993/000460/06)
JSE Share Code: EEL
ISIN: ZAE000248258
(“Efora” or “the Company”)


Efora is pleased to announce that the Company has obtained a further licence extension for
Block III in the Democratic Republic of Congo (DRC), which extends the licence until July
2020. This allows us additional time to review the technical data to determine the area that
will be the subject of the renewal of the licence in July 2020. We are also awaiting
confirmation of the revised contractual terms that will be the subject of the renewal which
have already been negotiated with the DRC government.

Efora’s Interim CEO Mr Matroos said:
“Block III represents an exciting opportunity for the Group and the extension provides us with
additional time to consider the data on the block and the economic prospects of the significant
resource potential that has been identified to date.”

22 November 2019

PSG Capital

For further information please contact:

Efora Energy Limited
Damain Matroos
+27 (0)10 591 2260

About Efora
Efora Energy Limited is a South African based independent African oil and gas company,
listed on the JSE. The Company has a diverse portfolio of assets spanning production in
Egypt; exploration and appraisal in the Democratic Republic of Congo; a midstream project
relating to crude trading in Nigeria and material downstream distribution operations in South
Africa. Our focus as a Group is on delivering energy for the African continent by using Africa’s
own resources to meet the significant growth in demand expected over the next decade.

Date: 22/11/2019 02:51:00
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