Eagle08, I was referring to page 9 of the annual report released by WBE today. The entire page is about Xanadu under the heading 1.3.1 Xanadu Oil Discovery: TP/15: WBE- 15%
I am copying and pasting the last two paragraphs of that page here:
The area is already covered by modern aeromagnetic and gravity data, which, when integrated with new 3D seismic data, will provide a detailed understanding of the Xanadu oil field. Acquiring 3D seismic data will allow a new well to be optimally placed, with the expectation of completing this well as a commercial producer, and assist in the positioning of any subsequent development wells. The 3D seismic acquisition is now scheduled for H1 2019 following the award of a contract to Synterra Technologies, a leading global provider of geophysical services and subject to environmental approvals.
The TP/15 Joint Venture remains fully committed to the development of the Xanadu Discovery and a five-year permit renewal application has been submitted to the Department of Mines, Industry Regulation and Safety (DMIRS) with the Xanadu 3D seismic survey fulfilling the Year One commitment of the five-year work program.
NWE Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
