Welcome!

News Feed Item

Kilimanjaro's 100% Interest in Onshore Cabinda Estimated to Contain 2 Billion Barrels of Oil: African Union Expected to Ratify Decision Soon

Kilimanjaro Concession Could Be Worth Billions of Dollars

BELIZE CITY, BELIZE -- (Marketwired) -- 03/27/14 -- The directors and management of Kilimanjaro Capital (GXG: KCAP)(PINKSHEETS: KIMJF) ("Kilimanjaro" or "the Company") are pleased to provide an update on the Company's interest in Cabinda where Kilimanjaro Capital currently has nearly a 100% concessionaire interest in the country's future onshore oil production obtained from the Front for the Liberation of the State of Cabinda (FLEC). Experts predict that Cabinda's recoverable onshore hydrocarbons exceed 2 billion barrels.

Future control of the Cabinda onshore blocks has involved litigation initiated by FLEC against Angola at the African Union, African Commission for Human Peoples Rights (Banjul Commission) filed in 2006. FLEC/ANGOLA ACHPR Case No. 328/06. In 2012 the African Union took full jurisdiction over the matter and received arguments from each side. This was the first time the African Union has accepted jurisdiction in a case involving an unrecognized state.

According to high ranking FLEC sources, the African Commission for Human Peoples Rights has finally reached a decision on the merits. The decision is now awaiting the Assembly of Heads of State and Government of the African Union to ratify it within the next 90 days. The AU Assembly of the Heads of State and Government consists of the 54 heads of state and government of the member countries.

The Cabinda onshore blocks abutt the offshore Chevron and Total operations which are considered among the most productive properties in Africa. Due to the situation with FLEC little exploration has taken place onshore since the beginning of the 1975 Cabinda conflict. African Union involvement is viewed as a positive indicator that FLEC may soon resolve its dispute with Angola and that large scale oil exploration and production will commence with FLEC and Kilimanjaro's participation.

Kilimanjaro CEO Zulfikar Rashid is optimistic the final decision will be favorable to Cabinda and Kilimanjaro: "Dismissals are not sent to the African heads of state for ratification; something huge is brewing here after seven years of legal proceedings." Rashid also predicts that majors already long in the area like Chevron's Cabinda Gulf Oil Company (CABGOC) will be quick to snap up operating agreements: "Chevron and FLEC have had a working relationship in the past; the reason these onshore blocks have been untapped is because of the civil unrest."

Rashid's outlook for Kilimanjaro is likewise bullish: "This AU onshore decision could be bigger than even Cabinda's offshore blocks 0 and 14 which produce hundreds of thousands of barrels a day."

Kilimanjaro also has obtained the disputed rights to the three Cabinda offshore blocks.

Contacts:
Kilimanjaro Capital Limited
35 New Road, P.O. Box 198
Belize City, Belize
+44 (0) 20 3239 1362
[email protected]
www.kcap.biz

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Elon Musk is among the notable industry figures who worries about the power of AI to destroy rather than help society. Mark Zuckerberg, on the other hand, embraces all that is going on. AI is most powerful when deployed across the vast networks being built for Internets of Things in the manufacturing, transportation and logistics, retail, healthcare, government and other sectors. Is AI transforming IoT for the good or the bad? Do we need to worry about its potential destructive power? Or will we...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
The last two years has seen discussions about cloud computing evolve from the public / private / hybrid split to the reality that most enterprises will be creating a complex, multi-cloud strategy. Companies are wary of committing all of their resources to a single cloud, and instead are choosing to spread the risk – and the benefits – of cloud computing across multiple providers and internal infrastructures, as they follow their business needs. Will this approach be successful? How large is the ...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...
SYS-CON Events announced today that Suzuki Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Suzuki Inc. is a semiconductor-related business, including sales of consuming parts, parts repair, and maintenance for semiconductor manufacturing machines, etc. It is also a health care business providing experimental research for...
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.