Lamu Oil and Gas Limited, a joint venture between Edgo Energy and QFB, signed a Production Sharing Contract for onshore block L14 in July 2012 in Kenya’s Lamu basin. Block L14 is located within 75 km of the developed coastal area and is ideally located to supply the increasing local energy demand.
A 734 km 2D seismic survey was completed in early 2014 and Lamu Oil and Gas has completed its work commitment for the initial exploration period. Subsequent interpretation has identified two prospective sub-basins in the block.
Lamu Oil and Gas will execute a 1000 km 2D seismic infill survey in the eastern sub-basin during the current first additional exploration period to identify drill targets in the large high graded prospective areas in the Eastern sub-basin.