Ophir Energy Statement:
Somaliland: A technical assessment of the Berbera Block was completed during the first half of 2011 and concluded that further seismic data is necessary to mature a drilling prospect. In parallel with this, negotiations continued with the Government of Somaliland to revise the terms of the Production Sharing Agreement and append some additional open acreage to the west of the existing Block. These discussions were concluded in November 2011 and an agreement to amend the PSA is currently in the process of being ratified. Once this is in place additional JV partners will be sought.
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