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Guyane Update

16th May 2012 07:05

RNS Number : 4421D
Wessex Exploration plc
16 May 2012
 



WESSEX EXPLORATION PLC

(AIM: WSX)

Guyane Update

 

Wessex Exploration PLC ("Wessex" or "the Company") notes the Interim Management Statement of Tullow Oil PLC ("Tullow") made today in respect, inter alia, of progress on the Guyane Maritime Permit, in which Wessex holds an effective 1.25 per cent. interest, which included the following statement:

 

"Following the basin-opening Zaedyus discovery in French Guiana in September 2011, a drillship has been contracted by the joint venture to commence a comprehensive exploration and appraisal programme in June.

 

The first well will appraise the discovery made by Zaedyus-1 and explore for deeper objectives, followed by an exploration wildcat well. Planning is also ongoing to acquire two large 3D seismic surveys; a 4,700 sq km Eastern Slope survey and a 620 sq km Cebus survey either side of the Cingulata fan system containing Zaedyus and other mapped turbidite fans."

 

Shell (45% interest) operates the Guyane Maritime Permit and is partnered by Tullow (27.5%), Total (25%) and Northpet Investments Limited (2.5%), a company owned 50% by Northern Petroleum plc and 50% by Wessex.

 

Contacts

Wessex Exploration PLC

www.wessexexploration.com

Frederik Dekker - Managing Director

+44 (0) 117 315 9010

WH Ireland Limited

www.wh-ireland.co.uk

John Wakefield / Marc Davies (Corporate Finance)

+44 (0) 117 945 3470

Ruari McGirr / Sebastian Wykeham (Institutional Sales)

+44 (0) 207 220 1691

Yellow Jersey PR

+44 (0) 776 853 7739

Dominic Barretto

[email protected]

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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