Business
Update on activities
Update on activities.
About this update from Pacsco Limited
[{"type":"text","content":"\n White Nile Limited\n21 February 2007\n\n\n White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas\n\n\n21st February 2007\n\n White Nile Ltd\n\n ('White Nile' or 'the Company')\n\n Update on activities\n\n\nWhite Nile Ltd, the AIM listed oil and gas exploration company, is pleased to\nannounce an update on its activities with regard to the Block Ba concession area\nin Southern Sudan.\n\n\nThe contracted drill rig, having been imported from Europe, has now arrived in\nAfrica and is being transported to the Block Ba concession area. The Company,\nfollowing extensive seismic work on the block, has identified numerous drill\ntargets and has prioritised four where it believes the productive Muglad Basin\nextends into the concession area, including one large structure of over 50 sq\nkm. The spudding of the first exploration well is targeted for early in the\nsecond quarter of 2007.\n\n\nThe Environmental and Social Impact Assessment ('ESIA') study to determine the\nenvironmental, social, technical and economic aspects of developing the oil\npotential of the concession area, including the construction of access roads,\naccommodation camps and eventually an oil refinery, processing plant and\npipeline, is in the process of being finalised. ESF Consultants, an independent\nenvironmental management consultancy, is leading the ESIA.\n\n\nThe scoping phase of the ESIA has included extensive public consultation to\nensure that stakeholders' contributions are taken into account within all\nstudies and developments. Response from all the local communities has been\npositive. They are supportive of the development of oil within the Block Ba\nconcession and they have an understanding that through the equity holding in\nWhite Nile by the state owned oil company of the Government of Southern Sudan,\nNile Petroleum Corporation ('Nile Pet'), the people of Southern Sudan will be\nmajor beneficiaries in the development of Block Ba.\n\n\nWith regard to the claim made by French oil company, Total E&P Soudan SA\n('Total'), regarding Block Ba, White Nile would like to take this opportunity of\nupdating the market on the current situation, following recent press comment and\nspeculation. Shareholders should already be aware that in mid 2005 Total made a\npre-action disclosure application to the Court in London concerning a request\nfor di...