AsherXino Corporation announced that it is negotiating with a large oil and gas company on a partial farm out of AsherXino’s Oil Prospecting License (OPL) 2012 offshore of Nigeria. Details of the proposed farm out were not disclosed.
AsherXino is an oil and gas exploration company focused on both offshore and onshore prospects in Nigeria and Ghana. The Company owns a 40% leasehold interest in offshore development block OPL 2012, and is currently working to finance the project through a combination of debt and equity. The Company also owns a 40% interest in offshore development block OPL 289 and intends to acquire additional leaseholds in Nigeria.
Source:AsherXino, January 7, 2011;