Africa Hydrocarbons Inc. provided the following update regarding the Company's BHN-1 exploration well on the Bouhajla Permit (47.5% WI) in northeastern Tunisia.
Africa Hydrocarbons has been advised by the Tunisian Department of Energy that, pursuant to the newly adopted Tunisian Constitution, all issues relating to natural resources contracts must be approved by the National Constituent Assembly.
This is applicable to the Company's Bouhajla Permit in Northeast Tunisia and specifically to the second one-year extension, applied for pursuant to the Hydrocarbons Code by the operator and the state oil company, ETAP, in February 2014. The relevant government departments are developing procedures for implementing this new protocol. AHI will provide an update on the approval process by the National Constituent Assembly as soon as known.