sign on form

Stay up to date

Sign up now for all our news
in one monthly digest

Malagasy oil woes

Dodgy deals
By Petroleum Economist | Madagascar, Mar 6 2011

Madagascar Oil shares suspended on London's Aim; development of 1bn-barrel Tsimiroro field under threat

Madagascar has also been attracting attention both for its prospects as an onshore heavy-oil play, as well as for its offshore potential (PE 10/10 p34). But recent uncertainty surrounding UK-listed Madagascar Oil's heavy-oil assets will hardly have bolstered confidence among potential investors.

In mid-December, having only just raised £50.5m ($81m) from an initial public offering on London's Alternative Investment Market (Aim), the company was forced to suspend its shares after the Malagasy government said it was interested in compulsorily buying all the blocks controlled by Madagascar Oil, with no guarantee that it would pay the market price for the assets.


Madagascar tar sands
Located in the western Melaky region of Mahajanga pronvince are the two most developed tar sands projects of Madagascar, named Bemolanga and Tsimiroro. The size of both fields…

Good login. Redirecting to
'My Banktrack'.
Wrong login. Click here to request your password.
An email has been sent with your login!
Request password
This email is unknown.
<< Back
Please provide one or more search terms

Join our mailinglist

Get all our latest news releases delivered straight to your inbox - or get our News Digest once a month

banktrack tweets
RT @wwwfoecouk: Today, Ruby & her mum moved their living room into a Barclays branch in York. Find out why #Reclaim
Oct 25, 2016
UN urges Bangladesh to scrap coal plant near world's largest mangrove #SaveSundarbans #StopRampal
Oct 24, 2016
Vismarkt 15
6511 VJ Nijmegen
Contact us