CFN – Kilimanjaro Capital Ltd., a private Canadian company focusing on emerging nations in Africa, is pleased to announce that on 17 November 2012 it signed a formal Offshore Oil Assignment Agreement with the Republic of Cabinda. Cabinda’s prolific offshore blocks have produced up to 700,000 barrels of crude oil per day and accounts for much of OPEC member Angola’s output.
The Assignment Agreement grants future rights to the Republic of Cabinda’s disputed offshore claims including an ultra deepwater block not previously explored. Angola’s licensees’ Agip, Total, and Chevron currently operate the concession.
Kilimanjaro Capital will immediately be seeking financial, oil and mineral industry partners and has a bold plan to acquire disputed and distressed oil and mineral assets throughout Africa. Kilimanjaro Capital recently signed an agreement for exclusive oil and minerals rights with the Government of Southern Cameroons.