PetroNor has provided an update regarding its A4 licence in The Gambia. PetroNor has received, from the Government of The Gambia, a one-year extension to the Longstop date of the Licence until 18 October 2022, which will enable the Company to progress its ongoing discussions with potential partners.

Map source: KeyFacts Energy

As set out in the announcement on 19 September 2020, in which the Company announced a settlement agreement with The Gambia resulting in the reinstatement of the A4 licence to PetroNor, the Company was granted a period of one year, ending 18 September 2021.

Commenting on the extension, Eyas Alhomouz, Chairman of PetroNor, said:
"We are delighted to have negotiated this extension which strengthens our long-standing partnership with the Government of The Gambia. After the successful reinstatement of the license, PetroNor has progressed discussions with a number of interested parties. This extension will hopefully enable the Company to convert those discussions into a formal partnership agreement with a view to proving up the exciting prospectivity of A4. The market conditions and industry appetite for this kind of high-impact asset have vastly improved over the past few months which has solidified our confidence in realising value from this asset going forward."

KeyFacts Energy: Petronor Gambia country profile