Puntland block deal

TORONTO-listed Marauder Resources East Coast has moved to select a 10,000-square-kilometre block offshore the Somali autonomous province of Puntland in the Gulf of Aden.

The deal follows an amendment last week to the memorandum of understanding signed with the local government examining the potential of acreage, all block-extensions of the Dharoor sub-basin.

Marauder anticipates executing a production sharing agreement by 15 July, leaving Marauder as operator with a 100% working interest and an initial exploration period of three years, extendable for another three years.


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