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AfrOil NEWS IN BRIEF AfrOil

publications.
The report makes unfounded allegations
and cites apparent falsehoods from unnamed
sources in what can only be best described as a
sponsored smear campaign.
The report cites several false statements
including a statement to the effect that an exec-
utive director of SERL, Tope Shonubi, has an
amount of approximately $400mn kept in trust
for Kyari.
The report also falsely reports a statement
that “in May 2016, officials of the EFCC raided
the Lagos and Abuja offices of Sahara Energy
carting away several computers and documen-
tary evidence of the deals, according to Point-
blanknews.com sources at the anti-graft agency.”
For the avoidance of doubt, we would like
to state for the record that the allegations in the
report are baseless, unfounded and a deliberate
attempt to mislead the public. SERL categorically
denies any illegal alliance with Mamman Daura
or the Late Abba Kyari or indeed any other polit-
ical appointees as alleged and the above listed
individuals do not have, have never had and
have never been promised any inducements or
Gambia: During the quarter, FAR Gambia Ltd (a quarter. interests whatsoever by or in SERL or any of its
wholly owned subsidiary of FAR Ltd) signed new Kenya: Following a long period of inactivity affiliates.
joint operating agreements (JOAs) for the A2 due to land access issues, Flow Energy, a FAR Ltd It is on record that SERL, a Sahara Group
and A5 Blocks in The Republic of The Gambia subsidiary, and its co-venturers, Pancontinental company, is one of the foremost indigenous
with PC Gambia Ltd (a subsidiary of Petronas). Oil & Gas and Afrex, a subsidiary of Panconti- operators in Nigeria’s oil and gas sector with a
This follows the granting of new Licences for nental, agreed to surrender the Block L6 PSC. A sterling pedigree spanning over two decades
those Blocks by The Government of The Gam- Surrender and Termination Notice was formally with demonstrable and impeccable governance,
bia effective October 1, 2019, after which FAR issued to the Government of Kenya in late June. integrity, service excellence and good corporate
and Petronas took the opportunity to update the FAR anticipates concluding the termination citizenship.
terms of the existing JOAs by entering into new arrangements in the next quarter. It is important to note that this recent publi-
JOAs with effect from October 1, 2019. Late in the quarter, FAR concluded negoti- cation is not the first of its kind by way of smear
Efforts to find an additional partner for the ations with Pancontinental and Afrex regard- campaigns against SERL by pointblanknews.
drilling of the next well in The Gambia are ongo- ing payment of outstanding cash calls to the com. SERL had in the past instituted legal action
ing, with FAR having run numerous data room Operator. against pointblanknews.com and its owners and
presentations for interested parties. FAR is work- Pancontinental agreed to settle this matter secured judgment against it for publishing false
ing to conclude a farm-out before the restart of with payment of $150,000 as full and final settle- and defamatory information about the company.
the drilling operations. ment of any and all outstanding cash calls relat- Please click here for more details.
Towards the end of the quarter, FAR Gam- ing to Kenya Block L6. For the benefit of our stakeholders and other
bia Ltd submitted an updated Environmental FAR, July 16 2020 counterparts across the globe, we have a duty
and Social Impact Assessment for the planned to set the record straight in view of the aforest-
Bambo-1 well to fulfill statutory and regulatory ated false and misleading report by pointblank-
requirements. It has now been advertised in local COMPANIES news.com and subsequently by other online
newspapers for public review with comments publications.
due July 23, 2020. Nigeria’s Sahara Energy We thus urge members of the public to disre-
Guinea-Bissau: Well planning for drilling gard the report in its entirety.
Atum-1X was placed into permanent suspen- Resource Ltd clarifies Sahara Group continuously promotes trans-
sion by Operator during the quarter. FAR began parency in business, working and support-
working with the Operator to help identify and false media report ing global stakeholders including the United
protect the Joint Venture from any further asso- Nations Private Sector Advisory Group and the
ciated cost exposures during the COVID-19 The attention of Sahara Energy Resource Lim- World Economic Forum Partnering Against
shutdown. ited (SERL) has been drawn to a false and mis- Corruption Initiative (PACI). We remain com-
Decrees in relation to the Joint Venture’s leading media report initially published by the mitted to the principles of good governance,
licence extension requests have been drafted by online news portal, Pointblanknews.com on July best practice and service excellence that have
Petroguin for formal submission to the Council 15, 2020, under the headline: “How Late Abba successfully driven the Sahara Brand in the last
of Ministers and to the President of Guinea-Bis- Kyari Illegally Shared $200mn From $1.099bn two decades – across its locations in Africa, Asia,
sau. FAR anticipates Operator will submit them Oil Bloc Money To Sahara Energy,” which has Europe, and the Middle East.
on behalf of the Joint Venture in the coming also been re-hashed in other online media Sahara Energy Resources, July 16 2020

Week 29 22•July•2020 www. NEWSBASE .com P19