Fortune Oil, Angola Enter Data Agreement

Fortune Petroleum Corp., an Agoura Hills-based energy concern, said it has entered into an agreement with Sonangol, the national oil company of Angola, to market and sell data about oil and gas basins in that country.

Under the terms of the agreement, Fortune will have the right to market the data for 10 years, and proceeds from the sale of the data will be split between Fortune and Sonangol. Fortune acquired the data in 1987 for an undisclosed price.

The data includes seismic information about areas adjacent to basins thought to be rich in oil and gas reserves, Fortune said. The company said the areas are the object of intense exploration, but that it has no plans to drill in the region.