2009-08-17-2007-12-01-2008-07-01

Bought interest in Kowe Block offshore producing 3,750 BO/d net, interest in Agali block, option to earn into Gryphon Marin block.

The Netherlands-based investment company Oranje-Nassau Groep BV, through subsidiary Oranje-Nassau Energie BV, has closed its acquisition of the offshore Gabon oil and gas assets of Devon Energy Corp., Oklahoma City, (NYSE: DVN) for US$205.5 million. The assets include an interest in Kowe Block, currently producing approximately 3,750 barrels of oil per day net. Also included are Devon's interest in the Agali exploration block and an option to earn an interest in the Gryphon Marin exploration block. Devon expects to incur no income taxes on the transaction. Devon is in the process of divesting all of its operations in Africa with total pending or sold deal values of more than $3 billion. These include the pending sales of its operations in Cote d'Ivoire to Afren Plc, London, (London AIM: AFR) for $205 million and operations in Equatorial Guinea to GE Petrol, the national oil company of Equatorial Guinea, for $2.2 billion.