Business
Contract award and warrants
Contract award and warrants.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n Gold Oil PLC\n07 February 2006\n\n\n\n\nFOR IMMEDIATE RELEASE 7 February 2006\n\n\n\n Gold Oil Plc\n\n\nAward of Engineering Contract and Issue of warrants to Contractors\n\nGold Oil plc ('The Company') announces the award of an engineering contract to\nConex S.A.C. for the drilling of an exploration well in Block XXI onshore the\nSechura Basin in Northern Peru.\n\nThe Company anticipates commencing drilling the first well on Block XXI in April\n/May, once Ministry approval of the licence is received. The cost of drilling\nthis well will be met from the Company's existing cash resources.\n\nConex S.A.C. is a local Peruvian company whose staff has been involved in\nexploration in the Talara and Sechura Basins for over 35 years. The scope of the\ncontract is to manage the well from prognosis to completion under supervision of\nthe Company. As part of the Board's policy of providing performance based\nincentives Conex has been issued with 2,000,000 warrants to purchase Ordinary\nShares of 0.025p each in the Company. The warrants are open to exercise on or\nbefore 30 January 2009 at a subscription price of 6p per share.\n\nENQUIRIES:\n\nGary Moore Managing Director; Tel: 01737833597\n Email: [email protected]\n\nMike Burchell Chairman; Tel: 01372361772\n Email: [email protected]\n\nRoland Cornish Beaumont Cornish Limited; Tel: 020 7628 3396\n\n\n\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]