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Published On: Tue, Jan 9th, 2018

Oyster Oil Prepares for Djibouti Seismic Campaign

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VANCOUVER, BC / ACCESSWIRE / January 9, 2018 / Oyster Oil and Gas Ltd. (Oyster or the ‘Company(TSX-V: OY; FRA: 13L) is preparing for an onshore seismic campaign in Djibouti. Invitations to tender have been issued and an independent environmental impact assessment report has been commissioned.

Oyster Oil has identified a large unexplored sedimentary basin located in Block 1, onshore Djibouti. The basin is located close to the coast and is also quite near to the capital, Djibouti City, and thus, to the excellent infrastructural capacity of the port, road, rail, and air networks of Djibouti, one of East Africa’s major international transportation hubs.

Oyster Oil holds 100% equity in both onshore and offshore blocks in Djibouti. Oyster Oil will also be seeking to acquire an offshore 2D seismic survey subject to identifying with a suitably qualified contractor.

Dr. Phil Roach, Oyster’s Head of Exploration, commented, ‘We are tendering for a 2D seismic survey of up to approximately 200 line kilometres over the mapped Mesozoic sedimentary basin (Jurassic and Cretaceous) in Block 1. Oyster Oil has conducted extensive field studies and various surveys over the last few years and believes that Djibouti has the potential to mirror the highly prolific hydrocarbon reserves/production potential that exists across the narrow Red Sea/Gulf of Aden Rift in Yemen.’

About Oyster Oil and Gas Ltd.

Oyster is an upstream oil and gas company with a focus on Eastern Africa. Oyster holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar. Oyster is the Operator and holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti. Oyster also holds a 100% working interest and is the Operator of an onshore block located in northwest Madagascar covering approximately 2.8 million acres

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