4th Sep 2014 08:20
LONDON (Alliance News) - Genel Energy PLC Thursday said the Dilolo-1 exploration well on Block 39 offshore Angola, in which it has a 7.5% working interest, is in the process of being plugged and abandoned after failing to encounter hydrocarbons.
Although further studies are needed in order to fully understand test results, the well has provided a useful calibration for other prospects on Block 39, Genel Energy said.
The company also said the Stena Carron drillship will now move to Block 38 to spud the Jacaré-1 exploration well. Genel Energy has a 7.5% working interest in Block 38 also off Angola.
Genel Energy shares were quoted down 2.0% at 840.50 pence Thursday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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