Business
Drilling update - Kenya
Drilling update - Kenya.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n Global Petroleum Ltd\n28 September 2006\n\n\n\n28 September 2006\n\n TIMING OF KENYA DRILLING\n\nFurther to Global's release of 24th August, Woodside as operator of the \nCompany's Kenya Joint Venture has advised that the drill rig is expected to be \nhanded over to Woodside in the second half of October 2006, with drilling \noperations to begin about one month later after the rig has mobilized to Kenya.\n\nTwo wells are planned - one in each of Blocks L-5 and L-7. The first of two \nwells is likely to be in L-5 on the Pomboo prospect and the second well will be \nin Block L-7 and is likely to be on the Sokwe prospect.\n\nHoldings in the L5 and L7 Joint venture are:\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\nWoodside and Repsol earn their farm-in equity when these two wells are drilled.\n\nFor further information, refer also to Global's releases dated 16/3/06, 4/5/06 \nand 24/8/06 and Global's website: www.globalpetroleum.com.au\n\nFurther information\n\nGlobal Petroleum\nJohn Armstrong - Executive Chairman +61 (0) 7 3211 1122\n\nBell Pottinger Corporate & Financial\nNick Lambert +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"}]