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The United Republic of Tanzania

Petroleum Upstream Regulatory Authority

Petroleum Upstream Regulatory Authority

Bigwa Rufiji Mafia Block-Mkuranga

OPERATOR:

M&P Exploration and Production Tz Ltd – 60% interest

OTHER CONTRACTING PARTIES:

  • PetroQuest - 20%
  • Hollick - 20%

License Area Size:

920.23 sq.km

PSA Signed Date:

3rd June, 2004

Effective Date (Initial Period):

13th July, 2004

First Exploration License:

3rd June 2009

Second Exploration License:

3rd December 2012

Current License Period:

Under Development Licence Application

Current License Effective Date:

N/A

License Expire Date:

N/A

STATUS OF OPERATION

Awaiting for the Development license grant.

CURRENT STATUS

Under Development Licence Application.

FISCAL TERMS

  • Royalty: 12.5%
  • Income Tax: 30%
  • Withholding Tax: Varies

SURFACE RENTAL

  • Initial Period – USD 4/sq.km
  • First Extension Period – USD 8/sq.km
  • Second Extension Period – USD 16/sq.km
  • Development License -Established as per plan