Tunisia/Libya: Joint Oil approves Sonde farmout to Viking

By OGJ editors

Joint Oil, the Tunisia-Libya offshore authority, has approved a farmout by Sonde Resources Corp., Calgary, of the Joint Oil block in the Mediterranean off the two countries to Viking Exploration & Production Tunisia Ltd., a private company.

Sonde Resources received approval from Joint Oil’s board to farm out to Viking 66.67% of its potential Zarat Field Exploitation Area and 50% of the remainder of its interest in the Joint Oil block.

Certain terms of the farmout are required to be amended. Sonde and Viking are completing the necessary documentation to effect the amendments, and this documentation is anticipated to be executed before a June 7 deadline.

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