Business
Drilling Rig - Kenya
Drilling Rig - Kenya.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n Global Petroleum Ltd\n01 November 2006\n\n1 November 2006\n\nGlobal Petroleum Ltd\n\n DRILLING RIG MOBILIZING TO KENYA\n\nGlobal advises that on 1st November, Woodside, as operator of the Company's \nKenya Joint Venture, took assignment of the rig which will drill the Joint \nVenture's two Kenya wells. It is expected that the rig will take some four \nweeks to mobilize to Kenya so that the drilling operations should commence \ntowards the end of November.\n\nThe first well will be Pomboo No. 1 in Block L-5. Pomboo has a proposed total \ndepth of approximately 5,000 metres below sea level. The second well will be on \nthe Sokwe prospect in Block L-7.\n\nWoodside 30% (and operator);\nDana 30% *\nRepsol 20% *\nGlobal 20%\n\nThe costs associated with Global's 20% in L5 and L7 are carried for all \nactivities through the drilling of the first well in each of these areas.\n\nFor further information, refer also to Global's releases dated 16/3/06, 4/5/06, \n24/8/06 and 29/9/06 and Global's website: www.globalpetroleum.com.au\n\n* Footnote\n\nAnother transaction is pending which, subject to the necessary permissions, will\nresult in the transfer of a 3% interest in L-5 and L-7 from Dana to Repsol,\nresulting in Repsol having a 23% interest in L-5 and L-7 and Dana a 27% \ninterest.\n\nFurther information\n\nGlobal Petroleum Ltd\nJohn Armstrong, Executive Chairman Tel: (07) 3211 1122\n\nBell Pottinger Corporate & Financial\nNick Lambert Tel : +44 (0) 20 7861 3232\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1807,"tagName":"div"}]