Find us on:
Facebook Twitter Google Plus Youtube

Glossary

Terms Starting With Letter E
  • Escrow account

    This is a bank account where money is deposited by one party to a transaction for payment to another party when certain specified conditions have been met.

  • Exploration Area, Block

    An area of land that an oil company is licensed to explore.  In 2001 the government of Uganda divided the Albertine Graben into five Exploration Areas (EAs).  Since then, some of these EAs have been sub-divided into smaller areas.  This is a normal pattern in exploration and extraction: once the existence of the resource is proven, the trend is towards licensing smaller and more focused areas.