Togo had signed an agreement with an American company, Hunt, for the latter
to explore for oil off the Togolese coast.
President Gnassingbe Eyadema, who presided at the signing ceremony,
expressed the wish that the exploration turns out successful for all stakeholders.
At the occasion, Equipment and Mines minister Andjo Tchamdja said Togo,
lacking the technical and financial wherewithal, opted to entrust the exploration
and exploitation of its oil with Hunt Company.
Several foreign companies have been trying over the past few years to
discover oil deposits off the Togolese coast.
