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PRESS RELEASE September 13th, 2005 INVITATION TO BID BLOCK R (Blocks D-9, D-10, E-8,E-9 and E-10) Malabo, 13th September, 2005 - At a meeting held at the Ministry of Mines, Industry and Energy in Malabo today, selected companies were invited to submit bids for Block R (formerly licensed to Total as Block E). The selected companies (Anardarko International Energy Company, Energy Equity Resources AS (EER), Kosmos Energy, Ophir Energy Company, Nexen Petroleum, Pexco Exploration and Repsol) were those companies that had earlier expressed interest in Block R. The Ministry of Mines, Industry and Energy will examine the received bids and then invite the successful company or companies (if a consortium is formed) to negotiate a PSC for Block R. The PSC negotiations will then be conducted between a commission consisting of the Ministry of Mines, Industry and Energy, the Ministry of Finance and GEPetrol and the successful bidder. Block R is located to the west of ExxonMobil's Block C and is adjacent to the maritime borders between Nigeria and Sao Tome. |