Business
Malta - seismic update
Malta - seismic update.
About this update from Geo Exploration Limited
[{"type":"text","content":"\n Global Petroleum Ltd\n03 November 2006\n\n\n3 November 2006\n\nGlobal Petroleum Limited\n\n OFFSHORE SEISMIC PROGRAM FOR MALTA\n\nGlobal Petroleum Limited advises that RWE, as operator of the Company's Malta\nproject, has contracted Fugro to acquire 700km of 2D seismic over prospects in\nBlocks 4 and 5 of Area 3, offshore Malta. The seismic survey is scheduled to\nbegin in November and is expected to last for two weeks. It will be undertaken\nusing the seismic vessel 'Geo Atlantic'. Magnetic and gravimetric data will also\nbe acquired during the survey.\n\nRWE Dea AG, who has farmed into Global's interest in the Exploration Study\nAgreement covering Blocks 4 and 5, has the right to earn up to a total 70%\ninterest if the parties enter into a PSC with the Malta Government and RWE\ncommits to the drilling of a well following the completion of the seismic\nprogram.\n\nCurrent interests in Blocks 4 & 5 are:\n\n* Global Petroleum Limited 80%\n* RWE Dea AG 20%\n\nIf RWE proceeds to the drilling of a well, the costs associated with Global's\nequity in Blocks 4 & 5 will be carried by RWE for all activities through the\ndrilling of the well.\n\nFor further information, refer also to Global's release dated 23 June 2006 and\nGlobal's website: www.globalpetroleum.com.au\n\nEnquiries\n\nGlobal Petroleum Limited\nDr John Armstrong, Executive Chairman Tel: (07) 3211 1122\n\nBell Pottinger Corporate & Financial\nNick Lambert Tel: +44 (0) 20 7861 3232\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1815,"tagName":"div"}]