This extends the term of Phase 1 of the Rovuma Onshore Area from September 1, 2010 to March 1, 2011 without further commitments. Phase 2 will now be reduced by a corresponding six-month period from a term of thirty-six months to thirty months.
The Rovuma Onshore Area is a 15,000sqkm concession area located in north-eastern Mozambique abutting Cove Energy’s Area 1 Offshore Block.
The partners of the area are Anadarko (35.7%, operator); Maurel et Prom (27.71%); Artumas Group (11.59%); Empresa Nacional de Hidrocarbonetos de Moçambique (15%); and Cove Energy (10%).
The partners drilled the Mecupa-1 well in the fourth quarter of 2009 and encountered excellent reservoir sands and indications of hydrocarbons. The well is undergoing a technical evaluation by Anadarko.
John Craven, CEO of Cove Energy, said: “The time extension relating to our Phase 1 work allows the partners to combine the data from the Mecupa-1 well with all exploration data available from seismic work in the block and related data from adjoining blocks to help formulate a comprehensive Phase 2 work program.”
