October 25, 2016 8:10 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Equator Exploration Ltd.

Company Overview

Equator Exploration Limited, together with its subsidiaries, engages in the exploration and development of offshore oil and gas projects in West Africa. It holds interests in five offshore oil and gas exploration projects in the Gulf of Guinea. The company was founded in 2000 and is based in London, the United Kingdom. Equator Exploration Limited is a subsidiary of Oando Energy Resources Inc.

50 Curzon Street

1st Floor

London,  W1J 7UW

United Kingdom

Founded in 2000


44 2072 974 280


44 2074 995 375

Key Executives for Equator Exploration Ltd.

Company Secretary
Vice President Legal & Business Development, Legal Affairs
Age: 49
Compensation as of Fiscal Year 2016.

Equator Exploration Ltd. Key Developments

Equator Exploration Ltd. Executes Production Sharing Contract Relating to its Blocks in the Exclusive Economic Zone of the Democratic Republic of Sao Tome and Principe

Oando Energy Resources Inc. announced transactions by its 81.5% held subsidiary, Equator Exploration Ltd. relating to its blocks in the Exclusive Economic Zone (EEZ) of the Democratic Republic of Sao Tome and Principe (STP). On February 19, 2016, Equator executed a Production Sharing Contract (PSC) with the National Petroleum Agency of STP (ANP-STP) for Block 12, taking an 87.5% participating interest with ANP-STP holding the remaining 12.5% as a carried interest.  Subsequently, Equator has farmed out a 65% participating interest and transferred operatorship in each of Blocks 5 and 12 to Kosmos Energy Sao Tome and Principe (Kosmos).  The Block 5 farmout transaction was approved by ANP-STP on February 19, 2016 and the Block 12 farmout transaction was approved on 31 March, 2016. Prior to the Block 5 farmout transaction, Equator held an 85% participating interest in the PSC for Block 5, with ANP-STP holding the remaining 15% as a carried interest. The PSC was signed in April 2012 and a 3D seismic survey of 1480 km2 was acquired in April 2015.  After completion of both farmouts, the parties hold the following interests: Block 5 has an area of 2,844km2 in water depths ranging from 2,000m to 2,500m. It was ranked in the EEZ by Equator with regard to hydrocarbon potential based on water depth, proximity to both the Equatorial Guinea shelf and the ancient Ogouee delta, and the presence of structural development related to basement faulting in the Cretaceous where oil has been found in Equatorial Guinea; Block 12 has an area of 7,940km2 in water depths ranging from 2,500m to 3,000m.  The block is situated within Zone B of the government block classification scheme, and within this group has been ranked the most attractive by Equator due to its proximity to the North Gabon salt basin and the presence of structural prospects located both on the footwall of the Ascension Fault and similar sub-parallel trends.

Equator Exploration Ltd. Auditor Raises 'Going Concern' Doubt

Equator Exploration Ltd. filed its Annual on Nov 17, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

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Recent Private Companies Transactions

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