Tosaco Energy acquired three onshore Technical Cooperation Permits (TCP’s), TCP 150, TCP 151 and TCP 154, located onshore in South Africa in the Mpumalanga and Gauteng Province.
- The TCP’s are valid for one year from the date of award following which Tosaco will convert the TCP’s to Exploration Permits (EP’s).
- Once converted the EP’s will have an initial validity period of 3 years with permissible extension periods totalling 6 years
The focus for the acquired TCP’s will be gas targets, specifically sandstone deposits in the Vryheid formation, consisting of sediments deposited in deltaic, shoreline and fluvial systems that entered an inland basin from highlands to the north and northwest.