Business
Drilling rig contract signed
Drilling rig contract signed.
About this update from Sunda Energy Plc
[{"type":"text","content":"\n Gold Oil PLC\n23 May 2006\n\n\nFOR IMMEDIATE RELEASE 23rd May 2006\n\n\n GOLD OIL plc SIGNS DRILLING RIG CONTRACT FOR A WELL IN PERU\n\n AND PARTICIPATES IN A WORKOVER IN COLOMBIA\n\n\nGold Oil Plc ('Gold') is pleased to announce that it has signed a contract with\na local Drilling Contractor (GMP S.A.) for the drilling of a single exploration\nwell on Block XXI, onshore Sechura Basin in North West Peru. The well is the\nfirst on the Block and is targeting both gas at less than 3,000 feet in the\nVerdun reservoir and oil in the deeper 6,000 feet Palaeozoic. As the block is\nhuge, apart from searching for hydrocarbons the well is also necessary to set\nmarkers for a future seismic and drilling campaign. The target date for spudding\nthe well is June 15 which is only six weeks since the Company signed the Licence\nwith the Minister of Energy and Mines and less than two years since the company\ncame to AIM.\n\nGold is also pleased to announce that the Operator (Union Temporal) of the\nNancy-Bourdine-Maxine (NBM) Oil Fields in the South West of Colombia has signed\na contract with a local drilling contractor for working over the Nancy-1 well.\nThe initial work programme involves re-entering the existing well to install a\njet pump allowing production to recommence from the existing zones and also to\nperforate zones previously ignored which will add to production. The work is\nexpected to start later this month.\n\nCommenting on today's announcement, Gary Moore, Managing Director of Gold Oil,\nstated:\n\nGary Moore, Managing Director of Gold, said 'We are delighted to have been able\nto source equipment and resources in such a quick timescale to commence\noperations in both Peru and Colombia in a very demanding market Results from\neach operation should be known within 2-3 weeks from the commencement of\nactivities on each project'.\n\nENQUIRIES:\n\nGary Moore Managing Director; Tel: 01737 833597\n Email: [email protected]\n\nMike Burchell Chairman; Tel: 01372361772\n Email: [email protected]\n\nRoland Cornish Beaumont Cornish Limited;\n Tel: 020 7628 3396\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagName":"div"}]