Maurel & Prom received exclusive authorization from the Republic of Gabon's Minister of Mines to operate the ONAL onshore field 17 sq miles (45.8 sq km) on the Omoueyi permit 1,613 sq miles (4,178 sq km) in Gabon.

This approval was granted for a 10-year period that is renewable once and substantiates the intensity, speed and success of Maurel & Prom's exploration-appraisal program in Gabon.

Maurel & Prom points out that the company now holds 100% of the ONAL permit. The Gabonese government and the sellers of the Omoueyi permit have a 15% right of entry and a 10% clawback upon reimbursement of past costs, respectively which could reduce Maurel & Prom's share to 75% of the ONAL field.

It is planned to develop the ONAL field in two phases. The first phase involves setting up the surface installations, building the flow lines and the oil pipeline, and starting up production of the four exploration wells
drilled in 2006 and of 11 producer wells to be drilled in 2007. The second phase will involve drilling 12 water injection wells.

Production is expected to be in the order of 12,000 b/d, at 100% during the first half of 2008.

Source: Maurel & Prom