BELIZE CITY, BELIZE--(Marketwired - May 13, 2014) - The directors and management of Kilimanjaro Capital (GXG:KCAP)(OTC PINK:KIMJF) are pleased to announce the signing of a Memorandum between the Company and Saladin Security Ltd. The purpose of the Preliminary Agreement is to establish an initial relationship between Kilimanjaro and Saladin in order to more fully identify opportunities to provide security soultions for a successful hydrocarbon exploration program in Somalia where Kilimanjaro Capital currently has a 5% earn in interest in the Amsas-Coriole-Afgoi (ACA) Block of 1,161,400 acres with a prospective oil resource of 21 million barrels and 130 billion standard cubic feet of sales gas (Bscf) according to an independent NI 51-101 Evaluation of Prospective Resources report available on the Company website.
Saladin Security Ltd. is a leading security company offering a variety of solutions to the Oil and Gas (O&G) industry, enabling them to operate in high-risk areas throughout Africa. Saladin is already operating in Somalia where it has worked with the United Nations Development Programme.
The Kilimanjaro Saladin Preliminary Agreement follows the April 3, 2014 Company Update wherein CEO Zulfikar Rashid indicated he was negotiating with a security firm, seismic and drilling companies and seeking financing for the ACA Block.