Vaalco has taken over Atlas's 12% in the block P devt area in shallow-deepwaters of the Rio Muni Basin. Shortly before, Atlas had taken on GePetrol's 38.4% leaving the latter with 20% carried through exploration. Resulting partnership Vaalco (op), 43%, Atlas 32%, Crown Energy 5%, GEPetrol 20% (carried).  Meanwhile Vaalco is said to be negotiating with Nigerian Levene HydroCarbon for the latter to gain an interest in block P, Levene possibly carrying Vaalco's cost (part or all) in a tentative explo well in block P.
Vaalco has taken over Atlas's 12% in the block P devt area in shallow-deepwaters of the Rio Muni Basin. Shortly before, Atlas had taken on GePetrol's 38.4% leaving the latter with 20% carried through exploration. Resulting partnership Vaalco (op), 43%, Atlas 32%, Crown Energy 5%, GEPetrol 20% (carried). Meanwhile Vaalco is said to be negotiating with Nigerian Levene HydroCarbon for the latter to gain an interest in block P, Levene possibly carrying Vaalco's cost (part or all) in a tentative explo well in block P.