Impact acquires remaining Area 2 interest from Silver Wave Energy

Impact Oil & Gas subsidiary Impact Africa has entered into an agreement with Silver Wave Energy to acquire its entire interest (10%) in Area 2, offshore South Africa. Following completion of this transaction, Impact will hold 100% participating interest and operatorship in Area 2.

Area 2 sits outboard of, and compliments, Impact’s Transkei & Algoa blocks off the east coast of South Africa. Together, the blocks extend the entire length and breadth of the deep-water part of the east coast margin, covering a combined area of approximately 125,000 sq km.

Impact holds a 45% participating interest in the adjacent Transkei & Algoa blocks. BG International Limited, a wholly owned subsidiary of Royal Dutch Shell, holds a 55% participating interest and operatorship.