Maha Energy granted an extension of the Initial Phase of the EPSA for Block 70 onshore Oman
September 15 2023 - 1:30AM
Maha Energy granted an extension of the Initial Phase of the EPSA
for Block 70 onshore Oman
Maha Energy AB (publ)
(“Maha” or the ”Company”)
announces that it has
been granted by the
Ministry of Energy and Minerals of the Sultanate of Oman
(“MEM”) an extension of the
Initial Phase of the Exploration and Production
Sharing Agreement
(“EPSA”)
for Block 70 --
located onshore Oman. After the
extension, the Initial Phase of the EPSA
runs until 31st of
December 2023.
Maha commenced in March 2023 a production test
on Block 70. Driven by Maha’s commitment to effectively conclude
the production testing, the Company requested to MEM in July 2023
for an extension of the Initial Phase of the EPSA. During the
extended Initial Phase, Maha intends to implement activities and
tests necessary to support any decision regarding a second phase of
the EPSA, a possible declaration of commerciality of Block 70 or
relinquishment.
For more information, please
contact:Paulo Thiago Mendonça, CEO, Phone: +46 8 611 05
11, E-mail: info@mahaenergy.caGuilherme Guidolin de Campos, CFO,
Phone: +46 8 611 05 11, E-mail: info@mahaenergy.caJakob Sintring,
Head of IR, Phone: +46 8 611 05 11, info@mahaenergy.ca
MiscellaneousThe information
was submitted for publication, through the agency of the contact
persons set out above, 8:30 CEST on 15 September 2023.
About MahaMaha Energy AB (publ)
is a listed, international upstream oil and gas company whose
business activities include exploration, development and production
of crude oil and natural gas. The strategy is to target and develop
underperforming hydrocarbon assets on a global basis. Maha holds
direct and indirect interests in producing assets in Brazil and the
United States and in an exploration asset in the Sultanate of Oman.
The shares are listed on Nasdaq Stockholm (MAHA-A). For more
information, please visit Maha’s corporate website
www.mahaenergy.ca.
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