LONDON and BAMAKO, Mali, Aug. 19, 2013 /PRNewswire/ -- Raven Resources Group today announced the ratification of its exploration license over Block 6, onshore Mali through its subsidiary Corvus Resources Management Limited. The formal handover ceremony took place in Bamako on the 16th of August, 2013.
The agreement between Raven Resources Group and the Ministry of Mines and Energy, Mali allows Raven to prospect for hydrocarbons in the prolific Taoudeni basin. Raven Resources Group plans to invest over US$50million as part of this exploration campaign over its seven (7) year license period. The Taoudeni basin is the largest sedimentary basin in Northwest Africa and has had companies such as ENI, Total, and Sonatrach prospect for hydrocarbons. Mali has recently been through a successful democratic election following a long drawn out military coup.
Minister of Mines and Energy, Mamadou Diarra Igor said, "This is a critical time for Mali in more ways than one and these positive developments herald a new beginning-a course correction for the people of Mali who will definitely benefit from this sort of investment in the economy."Raven Resources Group's Director for Business Development, Adeniyi Makanjuola commented, "We are extremely excited about the opportunity to prospect in one of the last frontiers for onshore oil and gas exploration worldwide. We see a great deal of potential and are committed to our efforts in Mali. We have assembled a strong team and we are confident that we will be able to achieve our set goals with the backing of our investors." About Raven Resources Group Raven Resources Group is an international oil and gas exploration and production company with interests in exploration and producing assets in Africa, Europe and Central Asia. Raven Resources has a highly experienced board with a proven track record in identifying, operating and developing hydrocarbon projects. The board has a defined investment strategy centered on evaluating potential opportunities according to strict investment criteria and on an individual merit basis. Management is constantly evaluating projects and is actively identifying opportunities as it looks to build a leading, diversified oil and gas company.