The memorandum of co-operation was also designed to establish a working relationship for possible joint ventures throughout the exploration and production spectrum "and related opportunities".
It is understood Energulf is keen to realise its option for a 25% working interest in any exploration licence awarded by the Ministry of Mines&Energy and even to acquire a lead role.
The Namibe basin block lies adjacent to the Angolan maritime border and hosts the Hartmann prospect, in which a Vanco 2D seismic survey identified a carbonate build-up with a pre-drill upside of about 2.2
