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Safari Petroleum & Western Energy awarded Comoros blocks, engage TDJ

LONDON -- Safari Petroleum and Western Energy Production,which gained Parliamentary approval for its Comoros Blocks D, E, F on March 17th,2014 have engaged Taylor-DeJongh (“TDJ”) as their Strategic and Financial Advisor.The Safari (25%) Western (75%) partnership was awarded a deepwater exploration license (PSC) in December of 2013 and reports the approbation of the license by the Assembly of the Union of the Comoros.

TDJ will assist Safari Western in optimizing its financial strategy for its exploration and appraisal program and ultimate commercialization of the 17,697 sq Km blocks.Blocks D, E and F are located in the prolific Mozambique Channel and correlate directly to the major Rovuma Delta discoveries made by Anadarko and ENI approaching  a combined 200 Tcf gas-in-place offshore northern Mozambique.

Taylor-DeJongh Chairman and CEO Terry Newendorp says “TDJ is very pleased to bring its expertise as well as established relationships with leading energy companies, investors and lenders, to the Safari – Western opportunity in the Comoros.  These Comoros blocks represent a potential ‘breakthrough’ set of blocks. We are honored to support the client with our strategic and financial advisory in order to optimize their exploration efforts.”

Steven Marshall, CEO of Western Energy Production added, “after establishing a relationship with Safari in 2012, we started looking at solely West African opportunities, but that quickly changed with the increasing intensity of the discoveries in the Mozambique Channel.  Our study of those world class discoveries ultimately led us straight to the Comoros and the decision to step out from there. While we continue to like West Africa, the opportunity to pick up these specific blocks in this rapidly emerging province represented a chance for legacy type reserves that rarely exists. When we had the opportunity to add the expertise and knowledge of the region that TDJ brings to the team, a compelling combination presented itself. We are obviously excited about the next stage.”

03/24/2014

 

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