SAPETRO awarded Benin Block 1 contract extension

South Atlantic Petroleum Limited (SAPETRO) is pleased to announce that, through its wholly owned subsidiary South Atlantic Petroleum Benin S.A., it has signed Amendment number 5 to the Production Sharing Contract for Block 1 of Benin with the Ministry of Petroleum Benin. Under this extension SAPETRO will continue with activities to assess the feasibility of redevelopment of the SEME field and will complete the evaluation of the prospectivity of the remainder of Block 1. The extension is for a period of three years from 1st December 2010.

South Atlantic Petroleum Limited
Registered company number 284117

For further information please contact:

Uzoma Echegiri
General Manager, Commercial
Tel: +2348033091652
Email: uzoma.echegiri@sapetro.com

South Atlantic Petroleum Limited (SAPETRO) is a Nigerian based upstream oil and gas exploration and production company with a portfolio of 5 assets in 4 countries spanning the full cycle E&P value chain. With production and exploration in deep offshore Nigeria, SAPETRO’s other interests are in Benin, the French Territory in the Mozambique Channel (TAAF) and Madagascar.