United Oil & Gas has entered an option agreement to acquire 20% of the Block B production-sharing contract in Benin from Elephant Oil. The 1.1 million-acre block is in the Dahomey Embayment west of Cotonou. The basin has had no drilling in Benin, but Dahomey Embayment wells along the coasts of Ghana and Nigeria have encountered hydrocarbons.

Source: News