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Equatorial Guinea: Brenham Oil & Gas awarded 15% participating interest in four blocks

Posted by www.equatorialguineaonline.com – March 23rd, 2012

Brenham Oil & Gas, a
subsidiary of American International
Industries
, has received and accepted a letter of award from the
Government of Equatorial Guinea in West Africa for a 15% participating interest
in four offshore exploration blocks. This area of Equatorial Guinea’s waters was
highlighted last year by Brenham’s exploration geologist, Rog Hardy, as part of
the Company’s ongoing review of seismic and well data in Sub-Saharan Africa.

Mr. Hardy, Brenham’s Vice President, stated, ‘These four blocks are in
between and along geologic trend with a large producing oil and gas field
complex with peak production of more than 80,000 barrels of oil per day and an
undeveloped oil discovery. The blocks awarded to Brenham total more than 500,000
acres. We are very excited about the exploration potential of these blocks.’

Scott Gaille, Brenham’s President, stated, ‘Brenham looks forward to working
with the Government of Equatorial Guinea and the other companies awarded
interests in the blocks. The next step will be for the consortium of winning
companies to finalize the commercial terms with the Government in a Production
Sharing Contract.’

 

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