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Investor targets proven plays in unproven states

A new company offers the opportunity to invest in hydrocarbons plays in aspiring independent states, which its chief executive says is a rare form of ethical oil and gas investment. Belize-registered Kilimanjaro Capital describes itself as the only publicly listed company focused on the acquisition and development of future contingent natural resource licences (FCLs). The Calgary-based company is concentrating on Biafra, Southern Cameroons and Cabinda. Chief executive Zulfikar Rashid told African Energy in an interview the FCLs assumed that a newly independent state would renegotiate oil and gas contracts on its territory, and that as part of that process a stake would be granted to Kilimanjaro in recognition of its support.

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