Mills warns investors

President John Evans Atta Mills has said that his government will not hesitate to punish investors who take undue advantage of Ghanaians.

While promising to support foreign investors in their business endeavours, President Mills says the laws of the country must guide all.

He was speaking to officials of Kosmos Energy Exploration Group who paid a courtesy call on him Thursday January 15, 2009 at the Castle, Osu.

According to Stephen Anti, Joy News’ Castle Correspondent, the meeting was held in a cordial, relaxed atmosphere, with the executives of Kosmos paying glowing tribute to Ghana’s democracy.

President Mills said the people of the Western Region must be made to feel that the oil is present in their community, and advised Kosmos Energy to develop the community during their period of exploration.

He also advised the group to procure goods and services from local sources in order to promote business in the region.

Greg Hill, President of Kosmos Energy told Stephen Anti after the meeting, that figures emanating from the oil fields in Ghana were not bloated in order to boost the stocks of the company as has been speculated by the media.

He maintained that Ghana has oil reserves in excess of two billion barrels which will be explored for the benefit of the country.

Mr. Hill was however evasive on what percentage of revenue from the exploration will be made available to government for purposes of development.

Source: myjoyonline