AGM Petroleum Opens New Office In Ghana

London, 11 February 2014 – AGM Petroleum the African focused private oil and gas Exploration Company, announces the opening of its permanent office in Accra, Ghana.

The office will be the operational centre for AGM Petroleum activities in Ghana and West Africa as the Company commences the exploration programme of its South Deep Water Tano (SDWT) prospect.

AGM Petroleum is owned by a Consortium, AGR Gibraltar, comprising of Minexco (OGG) Inc. (“Minexco”), AGR Energy AS (“AGR”) and MED Songhai Developers Limited.

Within the consortium, in addition to the operational expertise of Minexco Petroleum's management, AGR Energy, brings specific technical capabilities in offshore well engineering, which will be integral to the development of the future drilling programme

AGM Petroleum will work with the Ghana National Petroleum Company (GNPC) to explore and develop the SDWT offshore prospect, which is part of the prolific Tano Basin boasting several discoveries including the >2BBOE Jubilee field.

In addition to coordinating AGM Petroleum's partnerships with the GNPC and the Government of Ghana, the new office will also be used to advance its industrial training programme targeted towards the development of local sector capabilities.

For further information please contact:
Stratcomm Africa
Gideon Ayinbila Anaba
+233 0302 224724 / [email protected]
RLM Finsbury
Dorothy Burwell
Richard Webster-Smith
+44 (0) 20 7251 3801 / [email protected]

About AGM Petroleum Consortium
AGM Petroleum Ghana Ltd is owned by a Consortium, AGR Gibraltar, comprising of Minexco (OGG) Inc. (“Minexco”), AGR Energy AS (“AGR”) and MED Songhai Developers Limited.

Minexco is a private oil and gas exploration company, which holds interest in oil and gas assets and having significant experience in managing and developing petroleum projects in West Africa. The Company combines its extensive technical and project management expertise with a strategy of partnering with host country governments and NOCs to identify and obtain low risk, high-quality prospects in areas with proven development opportunities. In Sierra Leone Minexco holds 90% equity interest and is operator of Block SL-07A-10.

AGR Energy AS is the exploration arm of the AGR Group, The AGR Group is one of the world's most experienced deep-water drilling companies, having drilled close to 500 wells worldwide over the past 12 years and set the world record for the deepest offshore well below mud line, with operations in over 20 countries.

MED Songhai Developers Limited is a Ghana incorporated and Ghanaian-owned Company with a considerable track record managing and financing infrastructure companies in Ghana.

www.agmpetroleum.com

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