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News & Publications from 
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Recent News August/September, 2008 O’Flynn Exhams advised Circle Oil plc on the a farm-out agreement on its Ovambo Basin licence in Northern Namibia with Petroholland Ltd, a Dubai holding company, with interests in both the upstream and downstream oil and gas industry. The licence covers an area of over 70,000 sq. km’s immediately to the south of the Angola Namibia border. Under the terms of the agreement, Petroholland will acquire a 70% undivided interest in the licence with Circle Oil plc retaining a 20% interest and NAMCOR, the Namibian State oil company holding a 10% share. In consideration for the 70% interest in the licence, Petroholland has agreed to pay Circle Oil plc US$15 million in cash and cover all of the costs attributable to Circle Oil plc's 20% share of exploration and development expenditure through to production.
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