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.