- Exile Resources is an African oil and gas exploration and production company focused on Nigeria and with a license in Zambia.
- Their main project is the Akepo field in Nigeria, where they have re-entered and tested the Akepo-1st well, estimating production of 2,500-3,000 barrels of oil per day.
- Their goals are to begin production at Akepo in Summer 2010 and use cash flow to acquire additional projects in Nigeria and pursue opportunities elsewhere in West Africa.
Real Clear Politics January 18, 2008 A Political-Risk Outlook for 2008 By Ian Bremmer 2007 was a difficult transition year for political stability (and energy production) in Nigeria, but the prospects for a lasting peace deal in the Niger Delta look strong for 2008. Umaru Yar'Adua's government has shown itself to be more competent and stronger-willed than generally expected, starting with a meaningful purge of corrupt senior generals out of the military and a reversal of key personal privatizations by former President Olusegun Obasanjo. United Press International – Eurasia group analyst Sebastian Spio-Garbah ABUJA, Feb 6 (Reuters) - A group of influential rebels and activists from Nigeria's oil-producing Niger Delta said on Wednesday they wanted to resume peace talks with the government but a faction behind most attacks stayed out of the process.
Three projects we can speak of in generic terms. One close to Cameroon border - in 16 m water; c 7 mmbbls with upside of c. 20 mmbbls; proposal made to us by IC One offshore close to Middleton terminal - 5 mmbbls with 30 mmbbls upside;
Post-well analysis by Chevron indicated 107’ of net oil and 52’ net gas were encountered in 10 sands between 5620’ and 9676’ MD. The Akepo-1 well was not tested. , and was listed by Chevron as encountering 154’ net oil and 114’ net gas in 14 sands. Without testing, the well was plugged and suspended.
Estimated GDP growth in 2008 7%, Inflation: 8.6%, currency appreciation of up to 10% against the US dollar and British pound in the last 6 months. First rating was after existing Paris Club debt.