Six onshore permits awarded to AEI funded companies
Alumni Energy Investments is backing six oil and gas exploration companies that will be looking to find hydrocarbon reserves onshore in South Africa. Recently, in October 2019, the exploration licences applications were accepted. The companies through this licence will be able undertake the necessary exploration activities to determine if a commercially viable hydrocarbon deposit is present. If successful the discovery of onshore hydrocarbons within the borders of South Africa will have a significant positive impact on the fiscus and ultimately benefit all South Africans.
A recent article in Business Maverick, the business channel of the popular online news-site Daily Maverick reports on this development. Read more here: https://www.dailymaverick.co.za/article/2019-11-26-junior-oil-and-gas-explorers-dive-in-at-the-deep-end/