Congo Republic: African Petroleum merger

Oslo-listed junior African Petroleum hopes to secure a new lease of life through an all-shares merger with Cyprus-registered PetroNor E&P Limited, which is owned by Norwegian and Emirati interests. PetroNor has a 10.5% indirect interest in the Perenco-operated PNGF Sud fields in Republic of Congo and right to negotiate entry into an adjacent licence covering the PNGF Bis fields. African Petroleum’s sole remaining assets are claims on two blocks in Senegal and Gambia, where it has challenged the respective governments’ decisions to reassign them