16th May 2012 07:05
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 |
Related Shares:
Hague and London Oil