OEX announcement to the ASX today:
Oilex Ltd advises that on 11 November 2009, Woodside Energy Ltd released the “Songa Mercur” drilling
rig to Oilex and the vessel is now under tow from Dampier to the first well location in Oilex’s Timor Sea
contract area JPDA 06-103. The rig is contracted to drill two wells in JPDA 06-103 (with an option of one
additional well). Drilling is expected to start in late November 2009.
The “Songa Mercur” will be drilling the Loré and Lolotoe prospects in JPDA 06-103, targeting mean
prospective oil resources of 195 million barrels and 90 million barrels respectively (100% basis).
... etc
One thing thats a bit disconcerting given the Vietnam debacle is that they do not mention PPP as one of the participants in the permit ?!? Is this because the Autoridade Nacional do Petróleo of Timor Leste hasn't approved the assignment yet or just a sloppy oversight?
I wonder if they will give any insight into this and Vietnam at AGM next week.
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