Home | News    Saturday 26 February 2005

White Nile Sudan Oil JV details seen out March 4 - Source


By Jackie Range and Benoit Faucon

LONDON, Feb 25, 2005 (Dow Jones) — London-listed oil company White Nile Ltd. (WNL.LN) will soon issue critical details of its controversial joint venture with the Sudanese People’s Liberation Movement, a source said.

"We are hoping Friday next week", for the information, said the person, adding that the 11-page announcement would contain details of the joint venture and geological reports. It will also include statements from the company’s founders: former cricket player Phil Edmonds and mining entrepreneur Andrew Groves and outline the "general risks" associated with the project.

Last week the company said in a statement it would provide an update on the agreement this week. The SPLM is set to form the interim government of southern Sudan later this year.

In a statement last Friday, the oil exploration firm said it "had concluded an agreement with the government of South Sudan to acquire a 60% interest in the 67,500 square kilometer Block Ba."

A White Nile spokesman declined comment.

The block was previously held by France’s Total SA (TOT), which disputes the legality of the deal.

Previously a spokesman for White Nile had said that the company hadn’t released the full details of the agreement because it was "awaiting clearance regarding the structure of the deal with the London Stock Exchange."

A person familiar with the matter at the LSE said that the complexity of the deal was such that it "requires information similar to another IPO prospectus."

Diplomats, analysts and lawyers say the oil-development agreement between the speculative London energy firm and the former rebel group, the Sudanese People’s Liberation Movement, could at best force the Sudanese government of the north into further negotiations with the SPLM. At worst, the delicate peace agreement between the parties could unravel.

Under the peace agreement, a six-year interim ceasefire period will begin in Maywith the north and south sharing oil revenues. while a regional government in the south wields considerable autonomy in anticipation of a referendum on southern independence.

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article

The following ads are provided by Google. SudanTribune has no authority on it.

Sudan Tribune

Promote your Page too

Latest Comments & Analysis

False escape of Peter Biar Ajak from South Sudan to America 2020-08-07 15:58:45 By Steve Paterno In a dramatic fashion, Peter Biar Ajak, a South Sudanese political dissident, wrote an opinion article in World Street Journal (WSJ), published on July 23, 2020, the same day he (...)

How we can construct a shared vision for South Sudan’s future? 2020-08-01 09:21:58 David Nyuol Vincent To craft a shared vision for the future of South Sudan is difficult but not impossible. To surpass the perilous situation in which we are in now, we need to learn to (...)

Establish capable security force in Darfur 2020-08-01 07:43:40 By Mahmoud A. Suleiman The Darfur region is destined to continue bleeding. Those who believe in that openly say whether Omer Al-Bashir is still in the rule of Sudan or deposed, the region of (...)


Latest Press Releases

S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


Copyright © 2003-2020 SudanTribune - All rights reserved.