24th Aug 2011 07:15
WESSEX EXPLORATION PLC
(AIM: WSX)
French Guiana Update
Wessex Exploration PLC ("Wessex Exploration" or "the Company") notes the Half Yearly Results of Tullow Oil PLC ("Tullow") made today in respect of progress on the Guyane Maritime block in which Wessex Exploration holds a 1.25 per cent. interest, which included the following statement:
French Guiana
The ENSCO 8503 rig commenced drilling the Jubilee-type Late Cretaceous Zaedyus prospect in March. The objective of this wildcat well is to test the Jubilee play across the Atlantic in a new potential hydrocarbon province where Tullow has secured a commanding acreage position. Delays have occurred during the drilling of this deepwater wildcat well for a number of reasons; in particular, issues have arisen from drilling in a new basin with little or no comparative data. The rig also had to handle periods of increased ocean currents and some hole instability. The final section of the well is now being drilled and results are expected in September.
Wessex Exploration confirms that it has adequate funds to meet its financial obligations with regard to the drilling of the current GM-ES-1x well on the Zaedyus prospect.
Contacts | |
Wessex Exploration PLC | www.wessexexploration.com |
David Bramhill - Non Executive Chairman | +44 (0) 778 716 0682 |
WH Ireland Limited | www.wh-ireland.co.uk |
John Wakefield / Marc Davies | +44 (0) 117 945 3470 |
Yellow Jersey PR | +44 (0) 776 853 7739 |
Dominic Barretto |
Related Shares:
Hague and London Oil