Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi

Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi

Prospecting for oil in Malawi’s northern Block 1 has not been successful. As a result, South African company Efora Energy has decided not to renew its prospecting licence.

According to JSE-listed Efora Energy, formerly trading under SacOil Holdings, the prospectivity did not meet project investment criteria. SacOil initially acquired the licence in December 2012.

The company announced in November 2017:

In line with our strategy, we have evaluated our position in Malawi and Botswana and the prospectivity of the respective fields.  Those reviews indicated that the prospects of success on these two fields did not meet with our project investment criteria and as such we decided not to renew the exploration licences when they expired during H1 FY2018.

Advertisements

One response to “Efora Energy (formerly SacOil) relinquishes oil exploration licence in Malawi

  1. Pingback: Malawi’s Mining, Oil and Gas News #33: February 2018 | Mining in Malawi·

Leave a Comment, Question or Suggestion

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s