2,17 SEK

Aktiekurs 13.37

Onshore exploration licence on the western side of the island. After conducting seismic and geological studies, several struc- tures have been identified. Future efforts include drilling, for which Crown Energy is seeking a partner.

The Manja block is located on the west side of Madagascar and covers an area of 7,180 square kilometres. Several structures were identified and the largest is in the north-western part of the licence area. This structure may contain up to 1,250 million barrels of oil, and it is situated at a depth of 3,500 metres. Gas was found in the southern part of the licence area back in the 1950’s. In recent years, major gas finds have been found in an adjoining licence area to the south.

In 2017, Crown Energy agreed with OMNIS, the oil and gas authority in Madagascar, to extend the licence for two years, to 15 November 2019. The production commitment is moved forward from the previous period and continues to include a full tensor gravity (FTG) survey of the licence area followed by additional voluntary 2D seismic data.

Block 3108 Manja – Madagascar

Stage

Gross contigent resources 2C (mmboe)

Gross prospective resources (mmboe)

Total resources mmboe

Net WI (mmboe)

Exploration

-

1,071

1,071

1,071

Crown Energy's working interest (WI) is 100%.

All resources in mmboe (Million Barrels of Oil Equivalents). Crown Energy calculates reserves and resources according to Society of Petroleum Engineers Petroleum Resources Management System of 2007.

License: Block 3108 "Manja", Madagascar

Operator: Amicoh Resources Ltd (subsidiary to Crown Energy Ventures Corporation)

Share (working interest): 100%

Other partners: -

Crown Energy AB (publ)

Norrlandsgatan 18, SE-111 43 Stockholm

Phone+46 8 400 207 20

Fax+46 8 400 207 25

Emailinfo@crownenergy.se

Organisationsnummer556804-8598