The Group now controls four petroleum exploration licences for shale gas over a combined area of approximately 141,250 km2. In addition, the Group also controls two coal-bed methane licences

Group Structure

On 19 January 2016, the Company issued 10,000,000 new Ordinary Shares to Tamboran Resources for the acquisition of its 15% stake in Tamboran Botswana thereby bringing Tamboran Botswana under 100% control of EOAG.

It has been agreed that Karoo Energy Plc will also acquire the 6.525% holding in EOAG held by Noel Lyons following Shareholder approval at the 2016 Annual General Meeting.

Karoo Energy Plc group structure
Click to enlarge