Further to the announcement on 20 July 2017 regarding African Petroleum’s A1 and A4 licenses in The Gambia, the Company confirms that it continues to await feedback from the government of The Gambia on its proposal to enter into the next phase of the licenses and transfer the outstanding well commitment into the new phase.
When the Company delegation, including the CEO and CFO, met with President Barrow in Banjul on 13 July 2017 His Excellency advised that the matter was due to be discussed in a government meeting scheduled for late July 2017. It is management’s understanding that this meeting did not occur; however, the licenses are reported to have been discussed at a government cabinet meeting held on 10 August 2017. At this stage, the Company has no knowledge of the outcome of these recent government license discussions and is awaiting formal feedback.
The Company expects to receive formal feedback and clarity on the A1 and A4 licence situation from the government within the next few weeks.