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AFAG Slams Persecution Of EO Group!

The Alliance For Accountable Governance (AFAG) has reacted angrily to the political persecution of Ghanaian businessmen and especially that of the Ghanaian shareholders in KOSMOS Energy, the EO group, the company that discovered Ghana’s oil fortune.

According to the group it has been following with keen interest the unfolding drama with shock and dismay.

According to AFAG, the National Democratic Congress (NDC) which is an off-spring of the PNDC has set its regime on the premise of attacking indigenous businessmen, labeling them as thieves and imperialist collaborators. The latest victim of these activities is the EO group owned by Mr. George Owusu and Dr. Bawuah Edusei.

AFAG has wandered why the Attorney General of the Republic would charge the EO group with 25 counts leaving KOSMOS alone when both companies entered into an agreement with the Government of Ghana (GoG).

AFAG described the charges as floppy and politically motivated and intended to dent the image of the two in the corporate world and to devalue KOSMOS shares.

The charges include failure to call an annual general meeting in the year 2003 and failure to circulate profit/loss account.

Addressing the media yesterday, Anthony Karbo, a leading member of AFAG, said that giants in the oil industry like Hunt Oil, Fusion Oil and gas, Santa Fe, NUEVO and Dana all came to Ghana to explore Oil in commercial quantities but they failed and described Oil exploration in Ghana as a ‘grave yard’.

“But for the perseverance and dedication of the EO group after being rejected by 12 oil companies in USA, Ghana wouldn’t have found the Jubilee Oil Fields”, Karbo stated.

The group also revealed that the Chinese oil company that reluctantly rejected coming to Ghana to explore oil in 2003 is now in a position to buy $4 billion shares of KOMOS with the help of Tsatsu Tsikata in order to produce Oil when they could not afford $1million to drill an oil well in a day when the EO group solicited for their interest.

The 3.5% working interest owned by the EO group has become the subject of the persecution, even though it forms part of the 90% shares of KOMOS Oil, and not from the 10% shares of Ghana.

The proposals to give 90% shares to the exploring private firm and 10% to state was introduced by Tsatsu Tsikata, the person allegedly fronting for the Chinese Oil Company, as an enticement sufficient enough to bring foreign experts to explore at their own cost.

http://www.ghanaweb.com/GhanaHomePage/NewsArchive/artikel.php?ID=175836

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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