Global Petroleum says no oil or gas at Pomboo No.1 but will be fully evaluated |
|
|
|
Published
:
Wed, 17 Jan 2007 11:41
|
LONDON (AFX) - Global Petroleum Ltd said although it has not observed significant oil and gas at the Pomboo No.1 well in Kenya, a full evaluation will be possible only after the total depth of the well is reached.The company, which holds a 20 pct stake in the project, said the well continues to be drilled to the proposed total depth of 5,370 metres and 739 metres have already been drilled.In a drilling update, it also said that Dana Petroleum Ltd, which has a 30 pct stake in the Pomboo joint venture, may transfer its 3 pct interest in L-5 and L-7 to Repsol Exploracion SA, resulting in Dana holding a 27 pct stake and Repsol 23 pct.newsdesk@afxnews.compmi/rwCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Oil and utilities highlights to 09:15 GMT 