Clontarf - Re: CLON Stream Log - "Petrel Resources and Clontarf Energy...

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Re: CLON Stream Log

11:13 23/06/2016

Simbrad

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"Petrel Resources and Clontarf Energy have advised that they have been informed by the Ghanaian Ministry of Petroleum that it is available for negotiations on the Companies proposals for amended coordinates of the Tano 2A Basin Block. The Tano 2A Block was owned by Pan Andean Resources, 30% held by Petrel, 60% by Clontarf and 10% by local Ghanaians. The Ministry advised that the Lukoil B Block is available for negotiations. Positive developments for both Petrel Resources and Clontarf Energy with the potential for negotiations on the Lukoil B Block. The Lukoil B Block is located offshore and in deeper water than the Companies previous Tano 2A Block, but is considered highly prospective." Northland's view out this morning on Research Tree

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