BBB Champions Oil Gets Nepal Oil, Gas Exploration License

Nepal has finalized the allotment of Block 10 to Houston based BBB Champions Oil. The block was awarded to the company in July this year.

The awarding of Block 10 grants a four year survey license which may be extended twice by additional two year increments. BBB Champions has agreed to submit a work plan to the Department of Mines and Geology within the next two months.

Gary Bergholtz, Sr, CEO will formally meet with officials of the Nepalese government and the Nepalese Department of Mines and Geology to be awarded a licence to explore for oil and gas in Nepal’s Block 10 (Biratnagar)a 4969 sq km area in Southern Nepal.

While Nepal is not yet an oil producing country, there is a strong belief in the existence of petroleum resources in Nepal supported by seismic data, numerous oil and gas seeps, and a geological environment similar to the neighbouring oil producing countries of India and Pakistan.