3rd Aug 2015 09:17
LONDON (Alliance News) - Red Emperor Resources NL on Monday said drilling has started at the Hawkeye-1 exploration well, offshore the Palawan Basin in the Philippines.
The well was spud on Friday and the plan is to connect the blow-out preventer to the wellhead and pressure test prior to starting drilling of the hole just above the primary target.
Shares in Red Emperor were down 7.3% to 3.895 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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