Block L19 spans 2.9 million acres in southern Kenya starting at the Tanzania border and adjacent to the Indian Ocean at the east and running 160km to the north.
The company will soon undertake an exploration program on the site to assess the hydrocarbon potential following a review of gravity maps and other data which defined multiple structures.
Additional seismic surveys and technical studies are planned in order to identify potential drilling locations since only one well has been drilled on this block until now, which flowed oil in the Karoo formation at a depth of 1,538m.
Rift Energy Corporation president and CEO Fred Zaziski said Block L19 is on trend with several offshore blocks where Apache, Anadarko, Total and other large companies each have multi-million dollar exploration programs in progress.
"Additionally, this block is located very near the port city of Mombasa, which could give us a ready market should we make a major oil or gas discovery," he added.
