Impact Oil and Gas, the oil and gas exploration company focused on emerging hydrocarbon plays around the African continent, announces the award of a further Technical Cooperation Permit (“TCP”) by the Petroleum Agency of South Africa (“PASA”). This permit lasts for one year from the date of signature and gives Impact the exclusive right to apply for an Exploration Right over the area.
The permit awarded is TCP 53 and covers an area of 45,836 square kilometres and comprises 18 part blocks offshore East London on the South African East Coast.
Existing 2D seismic data will now be purchased from the PASA archives and seismic reprocessing will begin. Whilst the continental shelf is narrower than in the Tugela cone area (another of Impact`s acreage holdings), management felt that a one year TCP study was warranted to further examine hydrocarbon prospectivity.