Tanzania
“We have a Gas production there! We have a Gas development getting under way!”
Net asset Value (NAV) "Onshore gas discovery in Tanzania was recently rated at about $100 million net to our share risked"
Farm out
"Our plan going forward at this stage is to do what the industry calls a farm out" or "to sell out completely"
"In the next few months this farm out or monetisation event of our big gas discovery we are looking to create that. Farm outs take a long time to do in the oil industry. The average time is about twelve months so it does take a serious amount of effort to get the right commercial arrangements whether you are selling or farming down, bringing in a new equity partner but we are on that trail now"
Ntorya
"We have seen condensate" - "beginning to see some evidence of oil as well"
Gas
"We can take this immediately to the pipe line or indeed immediately to a CNG we can compress it at site and sell it into the local market". "Development study should be underway shortly"