A founding partner of TAOL acquired 1,762km of 2D seismic in offshore block 5b in Guinea Bissau before the official award of the concession.
A founding partner of TAOL farmed in and respectively acquired 52% Net Working Interest (“NWI”) in offshore block 1 in Guinea Bissau and 58.5% NWI in offshore block 5b in Guinea Bissau.
TAOL was incorporated under the laws of BVI by a group of entrepreneurs and investors to discover untapped oil resources in the West African region using the Rex Technologies exploration methods. Both WIs in blocks 1 and 5b in Guinea Bissau were transferred to TAOL
TAOL inked an exclusive intellectual property license agreement with Rex Technology Management Ltd for the entire West African region for a minimum of 15 years.
TAOL acquired 1,810km 2D seismic data in offshore block 1 in Guinea Bissau.
TAOL acquired an additional 1,722km 2D seismic data in offshore block 5b in Guinea Bissau.
TAOL was officially awarded 100% Working Interest of the offshore Djiffere block in Senegal with a 10% carry interest for Petrosen, meaning a 90% NWI.
TAOL sold 49% of its subsidiary which is holding the 90% NWI of the offshore Djiffere block in Senegal.
TAOL acquired 4,000km 2D seismic data in the offshore Djiffere block in Senegal.
TAOL acquired 2,700km2 3D seismic data in the offshore block 5b in Guinea Bissau.
TAOL farmed out a 400km2 3D campaign in the offshore Djiffere block in Senegal with an option of a full carry for one exploration well