AGNI- Associated Gas Natural Industries announces the acquisition of 24 deep water blocks in the Bismarck Sea
AGNI is pleased to announce today the acquisition of 24 deep water blocks in the Bismarck Sea, with proven and probable reserves of 20 billion barrels of Oil. AGNI began drilling exploratory wells in the deep waters of the Bismarck Sea in 2008.
- (1888PressRelease) December 09, 2010 - The company is in the midst of leasing two drillships and several subsea drilling platforms. Drill templates have already been contracted to a UK based company.
About the company
AGNI is an independent oil and gas company focussed on exploration and development in the Asia Pacific and African region. AGNI's assets include blocks in Asia, Ocenia and Africa.
Although AGNI believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because AGNI can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks.
These include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), and commodity price, interest rate and exchange rate fluctuations. The forward-looking statements contained in this document are made as of the date hereof and AGNI undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.