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Ghana Contract Monitor

11. Offshore Cape Three Points South Block

Contract Parties (Operator)

UB Resources, Houston Drilling Management, 
Royalgate Ghana Limited and GNPC
Effective Date/Initial Exploration Period

Effective Date: July 18, 2014
Initial Exploration (3 years): 
July 18, 2014 – July 17, 2017

Minimum Exploration Program (Initial Phase)

  • License and reprocess existing 600sqkm of 3D seismic data 
    relating to the Contract Area
  • Acquire and reprocess new seismic data (if deemed necessary)
  • Drill one (1) Exploration Well
Minimum Expenditure

$80,000,000
Observations as of 2017

The company has defaulted in its work and financial obligation. 
They still claim they are doing data interpretation.
2019 Update

The contractor has defaulted on the minimum work obligations.
No drilling has been made.
2020 Update

The Contractor did not undertake any activity in 2019. The 
Work Programme and Budget for 2020 has not been submitted.