Cameroon Licence Areas
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Iroko
The Iroko licence area is located approximately 30 km offshore Cameroon where the water depth is approximately 40 m.
Description
- Covers an area of 3,900 acres (16 km2)
- In April 2008, Addax Petroleum signed a PSC with the Republic of Cameroon, acquiring a 100% interest and operatorship
- The Société Nationale des Hydrocarbures (“SNH”), the national oil company of Cameroon, holds a back-in right of 30% in case of a development.
Initial exploration phase commitments were satisfied in June 2008 by the drilling of the Iroko 1 well and the acquisition of a high resolution 3D seismic survey