Muira Petroleum Company, the firm at the centre of allegations of forging the Energy Minister's signature to sell off majority stake in an oil block off the coast of Cape Three Points, has denied any wrong doing.

In a release copied to the Ghana News Agency on Friday, Mr David Brown, Head of Legal Department of the oil company stated that media reports that a director of the company had been arrested for forging the signature of the Minister are also false.

According to him, no director of the company has been arrested, or accused of any wrong doing.

The firm allegedly forged Emmanual Armah Kofi Buah's signature to lay claim to a piece of oil rich area, offshore of the south of the Cape Three points in the Western Region.

Miura Petroleum Limited is also reported to have made an estimated 1.5 million dollars using the forged letter as a basis to sell off majority stake in the oil rich area to its parent company, Gondwana Oil Corporation in Canada.

According to documents issued in Canada and sighted by Joy News, the parent company has expressed surprise at the allegations, which it says are inconsistent with the documentation it has received from the Energy Ministry till date.

But David Brown said Miura Petroleum Limited had not gained $1.5million from using a forged letter as basis to sell off majority stake in the oil rich area to its parent Company, Gondwana Oil Corporation, adding that anyone conversant with the oil market would know that $1.5 million would be an absurdly small sum to pay for an oil block.

He said agreeing a deal to negotiate exclusively "in no way suggests ownership of the block, so clearly Miura could never use this as a basis to sell off 70 per cent stake in block, an asset the company does not own”.

Mr Brown said the company regards any suggestion of wrongdoing as defamatory and would therefore not hesitate to invoke legal sanctions henceforth.

“There has been no wrongdoing by Miura or its directors and the company has not indulged in any out of the normal business practice," Mr Brown added.