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OIL EXPLORATION: Govt defends Oranto bond

Seismic Exploration of oil and gas in Lake Albert by the Nigerian license holder Oranto Petroleum will kick off this week, according to the Ministry of energy and mineral development. Robert Kasande, the Permanent Secretary in the Ministry of Energy is also defending the $17 Million Dollar performance Bond, provided for Oranto’s exploration activities, arguing that evidence of finding the resource is high.

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