Initial survey estimates put the total gas reserves at approximately four million cubic tons. The majority of the reserves are located offshore in territory claimed by both Mbote and Zumata.
|President Elect General Papi Mpongo on a recent visit to a Mbote Mineral Corp gas refinery.|
The markets have responded positively to the news of the Mbote governments announcement. The sale of Mbote Mineral Corporation stocks and government gilt bonds has trebled while the exchange rate has markedly shifted, with 1 Dollar (US) equivalent to 456,678,000 Banana (Mb).
As yet there has been no response from President For Life Dr Kenko Gold of Zumata but sources close to the government have indicated that an official press release will be issued very soon.