The Board believes that an investment into the Company is a particularly attractive proposition. There are three main reasons:
This combination of key differentiators, including the results of ANE’s initial surveying in the Namibian Exploration Licence, leads the Directors to consider that ANE is poised to triple the probability of drilling success at possibly as little as 1/10th of the cost of traditional exploration programmes.
The recently completed initial remote sensing survey of the 22,000km2 Exploration Licence has identified seven high quality anomalies extending across more than 2,000 km2. Exploration modelling suggests a gross, unrisked, mean petroleum resource potential of 1.63 billion barrels oil equivalent (recoverable prospective resources). Initial geochemical indications suggest that the hydrocarbons are in the form of light crude rather than gas.
Post placement, the Company will be valued at £13.3 million (120,467,500 shares at 11 pence). This could rapidly multiply with successful petroleum resource potential progression and de-risking, the addition of further anomalies to the prospect book and successful early exploration drilling. Upgrading of prospective resources to contingent resources - or higher categories of commercial petroleum reserves - on success, will provide excellent returns.
Further information is available in the Business Plan (The Private Placing Memorandum (dated 2nd September 2014) can be obtained through the "Documents" tab by clicking at the Business Plan).
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|Tax Relief Available||EIS|
|Sector||Mining & Oil|
|Location||London, United Kingdom|