4th Mar 2019 13:10
LONDON (Alliance News) - Polo Resources Ltd said that a controlled company of its investee Hibiscus Petroleum Berhad is on track to execute the Guillemot GUA-P1 side-track well located offshore the UK.
Polo owns a 8.75% stake in Hibiscus which in turn jointly controls Anasuria Operating Co Ltd.
Petrofac PLC has been appointed well operator and will be responsible for drilling the GUA-P1 well and for all the existing wells in the Teal, Teal South and Guillemot A fields.
Polo Resources shares were trading down 0.2% at 4.35 pence each, while Petrofac shares were up 0.3% at 442.80p.
Related Shares:
PetrofacPOL.L