Western Sahara: Halo raises stake in Sahrawi exploration play

Hague and London Oil (Halo)’s acquisition of Premier Oil’s assets in the disputed Western Sahara has made it – for the time being – the most significant holder of exploration rights issued by the Sahrawi Arab Democratic Republic (SADR). It now owns stakes in eight licences. Ultimately, Halo intends to transfer these rights to its wholly owned subsidiary Vermeer Exploration before selling off 51% to private investors. Despite the potential controversy associated with exploration rights in the disputed territory, Halo has avoided being drawn into possible conflicts and will start exploration only when the SADR authorities inform the company that it is possible to do so.