Jun 2016: SacOil (operator) announced that an 8-month extension of the term of onshore licence Block 1 in the north has been granted. SacOil is finalising environmental and social impact assessments and processing gravity and magnetic data. The extension allows it to complete acquisition of infill gravity and magnetic data and geological field work.
No significant news in 2015.
Mar 2014: In April 2013 SacOil initiated a satellite screening study associated with an environmental risk assessment for a proposed exploration program over the Block 1 license area adjacent to Lake Malawi. The study was completed in December 2013 with results presented to the Malawi Department of Mines. SacOil holds 100% of Block 1.
May 2013: NuEnergy Gas has commenced an airborne geophysical survey at its Exclusive Prospecting License (EPL) 0360/2012 in the Chikhwawa District, Mwanza river basin, in southern Malawi. This EPL for shale gas and Coal Bed Methane (CBM) is the first unconventional gas exploration license in the country. Initial field geological surveys were completed in November 2012.
Dec 2012: SacOil,has been awarded 100% in Block 1, an onshore licence located in the Northwest bordering Tanzania to the north and Zambia to the west. Block 1 is the second largest exploration licence demarcated on trend with the East African rift system. During the initial 4-year period the acquisition of gravity and magnetic data will take place, costing around US$2mm.