After extended talks with Malabo’s authorities, Afex signed a production sharing contract covering deep-water Block V in July.
Chief operating officer Richard Bray said “a farm-out is currently being negotiated”.
Afex currently has 100% control of the block, which lies south-west of Bioko Island.
This asset straddles a southwest-northeast trending volcanic zone that runs through Pico Basile on Bioko Island and Mount Cameroon.
Bray
