Ophir announces that it is still awaiting a response from the Equatorial Guinea Ministry of Mines and Hydrocarbons (‘MMH’) with regards to its request for an extension of the Block R licence. We continue to engage with the MMH as well as potential investors in the Fortuna Development. We expect to receive further communication from the MMH in January concerning either the lapse of the licence or the terms of any extension and will update shareholders as soon as the situation is clarified.
The Board remains focused on implementing the strategy outlined in its announcement on 13 September and is proactively evaluating the options available to the Company to maximise value for shareholders for the rest of the portfolio.
Source: Ophir Energy