ACORN PETROLEUM PLC ENTERS INTO STORAGE AGREEMENT WITH THE SIERRA LEONEAN GOVERNMENT

Acorn Petroleum last week signed an agreement with the Sierra Leonean Government to manage the crude oil and refined products storage tanks at the Sierra Leone oil refinery complex at Kissy, Freetown. This is coming after the company acquired Pegaz Group S.A Benin Republic.

The agreement was signed according to company sources last week in Freetown by the Minister of Trade and Industry, David Carew on behalf of the Sierra Leonean Government and the Managing Director/CEO of Acorn Petroleum Plc, Doyin Adeyinka. The Honourable Minister at the ceremony expressed confidence in the capabilities of Acorn Petroleum to manage the facility and be a part of the development of the oil and gas industry in the country.

Acorn Petroleum Plc, fully serviced Oil and Gas Company and among the fastest growing oil and gas companies in Nigeria grew its turnover and profit after tax in 2008 by 500 and 9,000 percent respectively. This shows the drive to becoming one of the leaders in the petroleum sector.

These acquisitions are coming after the company became certified by the Standards Organisation of Nigeria (SON) with an ISO 9000:2000 certification which signifies conformity to quality management systems across our business spectra.