SUNTERA ENERGY

Suntera is an Oil and Gas operating company (part of SUN Group), having operating assets in Nigeria in partnership with OIL, IOCL (Indian PSU’s) and Summit Oil of Nigeria. The asset is OML 142 block which is a gas condensate field within prolific producer Niger Delta Basin. It is located in Edo State, north east of Lagos. OML 142 offers relatively low cost, and low risk exploration and development opportunities, within a major oil and gas province, and benefits from excellent fiscal terms. The block has a number of prospects identified. Extensive 2D and 3D Seismic has been acquired in the block followed by drilling of appraisal wells. Profitable Gas and Condensate production has been achieved during the appraisal phase. Field development of the block is currently being planned.