21st May 2018 18:23
LONDON (Alliance News) - Getech Group PLC on Monday said that the government of Sierra Leone extended the country's fourth licensing round to the end of September, as a result of the run-off between the two main political parties.
Originally, the applications for the fourth round were expected to close at the end of June.
The geological services provider said it supports this licensing round through its subsidiary international upstream oil & gas consultancy firm Exploration Reservoir Consultants Ltd.
At the end of January, the company said that Exploration Reservoir Consultants will cooperate with the Petroleum Directorate of Sierra Leone to provide exploration companies with data required to review the country's proven productivity.
"The offshore waters of Sierra Leone contain proven petroleum systems, the understanding of which are supported by an inventory of extremely high quality geological and geophysical data," said Chief Executive Jonathan Copus.
"With much of this data being made available for the first time, the country's fourth licensing Round has generated significant levels of interest from the international oil and gas industry," Copus added.
Shares in Getech closed up 6.3% higher on Monday at 42.00 pence each.
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