Siwela Of MLO Secures a Groundbreaking Oil and Gas Exploration Deal.
Written by Business Reporter
Thursday, 16 January 2014 07:42
font size decrease font size increase font size
Siwela Of MLO Secures a Groundbreaking Oil and Gas Exploration Deal.
Danish Company to Explore Gas and Oil in Matebeleland thumbnail
A Danish investment company, Kilimanjaro Capital (GXG:KCAP) (PINKSHEETS:KIMJF), focused on hydrocarbons, minerals and other natural resources, has signed a Letter of Intent with the Matabeleland Liberation Organization (MLO) to set up and operate a Matabeleland Oil, Gas, and Mining Authority jointly administered by Kilimanjaro Capital and the MLO.
The agreement may change the face of Matebeleland forever.
Kilimanjaro Capital is a Belize company conducting business in Africa in conjunction with its stakeholders and affiliates and is listed on the Danish GXG Exchange. It has of late obtained a secondary listing on the US OTC Markets exchange as a foreign issuer under the ticker symbol KIMJF. At present it reportedly has interests in Somalia where Kilimanjaro Capital currently has a 5% interest in the Amsas-Coriole-Afgoi (ACA) Block of 1,161,400 acres.
Announcing the development, MLO leader Paul Siwela told ZimEye the “Agreement covers the future Republic of Matebeleland and will definitely have significant effect on MLO future aspirations.”
“It would change the face of Matebeleland and will never be the same again,” he said.
Siwela’s MLO seeks the total independence of Matabeleland from Zimbabwe. Matabeleland consists of the western half of Zimbabwe with its capital at Bulawayo and is rich in gold and other resources.
Meanwhile Kilimanjaro Capital has obtained an independent NI 51-101 Evaluation of Prospective Resources report for Kilimanjaro Capital which indicates prospective oil resources of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) in the ACA Block. The 112 page report is available in its entirety online and conservative estimates that the value for Kilimanjaro Capital’s share is approximately $187.5 million USD with an overall contractor group net present value of $3.75 billion USD for the entire ACA Block. This is consistent with the findings by Sinclair Somal Oil in the 1960′s and the Somalia Government in 1980′s during their drilling of test wells. The Company is in negotiations to raise funds for the Somalia ACA Block Project and to exercise its option to acquire an additional 5% interest. Unlike other blocks in Somalia, the ACA Block is not subject to reentry by major oil companies who have declared force majeure. The ACA Block was nationalized in the 1970′s by the Somalia Democratic Republic due its close proximity to the capital, Mogadishu, and was known as the Government Block. Kilimanjaro Capital expresses its support for a portion of the gas reserves to be set aside for revitalization of the Somali economy by providing an efficient fuel source and local participation in the project.
source:zimeye
Written by Business Reporter
Thursday, 16 January 2014 07:42
font size decrease font size increase font size
Siwela Of MLO Secures a Groundbreaking Oil and Gas Exploration Deal.
Danish Company to Explore Gas and Oil in Matebeleland thumbnail
A Danish investment company, Kilimanjaro Capital (GXG:KCAP) (PINKSHEETS:KIMJF), focused on hydrocarbons, minerals and other natural resources, has signed a Letter of Intent with the Matabeleland Liberation Organization (MLO) to set up and operate a Matabeleland Oil, Gas, and Mining Authority jointly administered by Kilimanjaro Capital and the MLO.
The agreement may change the face of Matebeleland forever.
Kilimanjaro Capital is a Belize company conducting business in Africa in conjunction with its stakeholders and affiliates and is listed on the Danish GXG Exchange. It has of late obtained a secondary listing on the US OTC Markets exchange as a foreign issuer under the ticker symbol KIMJF. At present it reportedly has interests in Somalia where Kilimanjaro Capital currently has a 5% interest in the Amsas-Coriole-Afgoi (ACA) Block of 1,161,400 acres.
Announcing the development, MLO leader Paul Siwela told ZimEye the “Agreement covers the future Republic of Matebeleland and will definitely have significant effect on MLO future aspirations.”
“It would change the face of Matebeleland and will never be the same again,” he said.
Siwela’s MLO seeks the total independence of Matabeleland from Zimbabwe. Matabeleland consists of the western half of Zimbabwe with its capital at Bulawayo and is rich in gold and other resources.
Meanwhile Kilimanjaro Capital has obtained an independent NI 51-101 Evaluation of Prospective Resources report for Kilimanjaro Capital which indicates prospective oil resources of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) in the ACA Block. The 112 page report is available in its entirety online and conservative estimates that the value for Kilimanjaro Capital’s share is approximately $187.5 million USD with an overall contractor group net present value of $3.75 billion USD for the entire ACA Block. This is consistent with the findings by Sinclair Somal Oil in the 1960′s and the Somalia Government in 1980′s during their drilling of test wells. The Company is in negotiations to raise funds for the Somalia ACA Block Project and to exercise its option to acquire an additional 5% interest. Unlike other blocks in Somalia, the ACA Block is not subject to reentry by major oil companies who have declared force majeure. The ACA Block was nationalized in the 1970′s by the Somalia Democratic Republic due its close proximity to the capital, Mogadishu, and was known as the Government Block. Kilimanjaro Capital expresses its support for a portion of the gas reserves to be set aside for revitalization of the Somali economy by providing an efficient fuel source and local participation in the project.
source:zimeye
