/NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES/
TORONTO, March 18, 2014 /CNW/ - Gondwana Oil Corp. ("Gondwana") (CSE:
GO) is very pleased to announce that after review of its application on
the Offshore Cape Three Points South Block, Ghana's Ministry of Energy
and Petroleum has invited Gondwana's 70% owned Ghanaian subsidiary,
Miura Petroleum Limited, to negotiate exclusively on the Block.
The Block is surrounded by 20 discoveries, including the world-class 2
billion barrel Jubilee light-oil field, currently producing in excess
of 110,000 barrels of oil per day.
Since 2010, exploration and development drilling offshore Ghana has
achieved an unprecedented 72% exploration success rate, and 63%
commercial success rate.
Gondwana has been working diligently towards this goal and believes that
the Offshore Cape Three Points South Block, in the Tano Basin only
30kms from Jubilee, is one of the most important and prospective blocks
in the prolific West African Transform Margin, which has been home to
great exploration success and attracted multiple energy majors.
The company and its strong and experienced technical team, as well as
its local partners, look forward to rapidly commencing exclusive
negotiations in Ghana.
Please visit the company's website http://www.gondwanaoil.com for more information.
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject
to numerous risks and uncertainties, certain of which are beyond the
control of the Resulting Issuer, including, but not limited to, the
impact of general economic conditions, industry conditions, dependence
upon regulatory approvals, and the uncertainty of obtaining additional
financing. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
SOURCE: Gondwana Oil Corp.
For further information:
Gondwana Oil Corp.