ERH eromanga hydrocarbons limited
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Eromanga sees oil in Brazilian projectSMH January 9, 2009 -...

  1. jakeb
    1,028 Posts.
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    09/01/09
    15:34
    Post #: 4675901
    Eromanga sees oil in Brazilian project
    SMH January 9, 2009 - 12:35PM


    Shares in Eromanga Hydrocarbons NL soared after the junior oil explorer said it had seen significant signs of oil at an exploration project in Brazil.

    Melbourne-based Eromanga said "approximately 95 metres of oil shows have been encountered to date" in the PACA 2 well in the Sergipe Alagoas Basin.

    "Drilling is continuing with strong oil indications," the company said.

    The well is near Eromanga Hydrocarbons' PACA 1 well, which has been under long-term production testing that is expected to be completed next month.

    The company's shares were up six cents, or 33.33 per cent, at 24 cents at 1229 AEDT on Friday
    ERH Price at posting: 23.5¢ Sentiment: Buy Disclosure: Held
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