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The United Republic of Tanzania

Petroleum Upstream Regulatory Authority

Petroleum Upstream Regulatory Authority

Nyuni Area


OPERATOR:

Ndovu Resources Ltd – 100% interest

OTHER CONTRACTING PARTIES:

  • N/A

License Area Size:

855.81 sq.km

PSA Signed Date:

27th October 2011

Effective Date (Initial Period):

27th October 2011

First Exploration License:

6th December 2016

Second Exploration License:

N/A

Current License Period:

First Extension Period

Current License Effective Date:

6th December 2016

License Expire Date:

26th October 2019

STATUS OF OPERATION

TPDC and Contractor to acquire, process and interpret 150 sq.km, Carry out Geological and Geophysical studies, Drill atleast two (2) exploration wells and acquire, process and interpret 266 sq.km.

CURRENT STATUS

Ndovu is expecting to undertake 3D seismic survey over the area

FISCAL TERMS

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

SURFACE RENTAL

  • Initial Period – USD 16/sq.km
  • First Extension Period – USD 32/sq.km
  • Second Extension Period – USD 64/sq.km
  • Development License -USD 200/sq.km