Offshore Ghana has already proven to be an extremely promising exploration area. The government has put legislation in place to ensure that the entire industry remains transparent and accountable. Gas and oil production is nowhere near capacity and as more natural resources are discovered, this potential continues to grow.

With low crime and a stable political landscape, Ghana is a safe and secure country for investment. So much so in fact, that Ghana offers oil and gas investors the highest returns of any country in Africa. Compared with an average yield for foreign investors of between seven and ten percent, the Ghanaian oil and gas industry brings a massive 18 to 20 percent yield, and has been described as one of the best exploration investment locations in the world.

As a fledgling oil and gas-producing nation, Ghana is highly conscious of the need to bring in sustainable technologies to prevent today’s drilling and refining from being the seed for major environmental damage in the future. An initiative by the government is already underway to attract private companies with expertise in green technologies to come forward and be involved in research and development.

The potential for growth in Ghana is impressive. With 1.5 billion barrels of oil projected in the Jubilee field alone, and likely many more fields to be discovered in the coming years, there are countless opportunities for savvy investors. Knowledge, timing, and the right solutions to the challenges that exist in this burgeoning market will be the key to unlocking its potential.

The Jubilee field produced 90,000 BOPD 40 months after discovery. Companies in the area include Tullow, Kosmos, Hess, Hunt, Afren, and Norsk Hydro. Of fifty wells drilled, 75% showed hydrocarbons, resulting in ten significant discoveries.

EOS Progress To Date

• May, 2011, EOS Petro (acting through its wholly owned subsidiary, Plethora Energy) was invited by Ghanian company and partner Baychester Petroleum Ltd. to meet with GNPC and the Ghanian Ministry of Energy.
• GNPC, a State-owned entity, was established in 1983 to be a leading global oil and gas company whose operations have had a profound, positive impact on the quality of life of the people of Ghana.
• In June of 2011, Plethora Energy sent geophysicists and geologists to review seismic data, well logs, and other relevant information to ascertain appropriate offshore acreage.
• In July, 2011, a technical presentation was given to GNPC.
• September, 2011: Plethora Bay Oil & Gas Ltd. filed an application for a total of 1.8 million offshore acres in concert with its technical partner, DCOR USA.
• As of July 7, 2015, EOS’ application is currently being reviewed by the Ghana Ministry of Energy and is awaiting approval. The quality and scope of this potential transaction should be readily apparent.