Africa Oil bags Ethiopian block

Wide open spaces: in Ethiopia

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Steve Marshall

 21 February 2013 15:15 GMT

Canadian explorer Africa Oil has secured a new Ethiopian tract in the so-called East Africa rift basin play that is believed to be on trend with a pair of discoveries farther south in Kenya.

The Toronto-listed company said on Thursday it has signed a production sharing agreement covering the 42,519 square-kilometre Rift Basin Area block, where it has already carried out survey work under an earlier joint study pact.

The new licence is located north of the Tulllow Oil-operated South Omo block, in which Africa Oil holds a 30% stake, where the Sabisa-1 exploration well was recently spudded.

It is believed to be on trend with that Ethiopian block in the Tertiary rift valley as well as other prospective tracts in Kenya - 10BA, 10BB, 13T, and 12A – where Tullow, in partnership with…

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