Arakis Announces Commencement of the 1997 Exploration Drilling Program in Sudan; Heglig Oil Production Averages 5,500 BOPD.CALGARY, Alberta--(BUSINESS WIRE)--Nov. 27, 1996--Arakis Energy Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AKSEF) reports that its wholly-owned subsidiary, State Petroleum Corp., has commenced drilling the first well of the 1997 exploration drilling program in the Republic of Sudan. The company spudded its first exploration well at El Saqr on Nov. 23, and has set surface casing to 500m. The well, located 25km south of the Heglig base camp, is expected to be drilled to a target depth of 3000m (9840 ft.) El Saqr has been seismically located to optimally test the Bentiu formation and shallower formations structurally involved on a sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz  a·ble·ness n. horst block trend paralleling the Heglig/Unity Arch. The
structure is 8.3 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
In other news, the company continues its production of crude oil from its Early Production System ("EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. "), which was completed in April, 1996. Since June 25, 1996, the company has delivered 371,185 barrels of crude oil to the Government of the Republic of Sudan at the Heglig field gate. Current daily deliveries average approximately 5,500 bopd. The system is capable of producing up to 25,000 bopd. The government owned and operated oil refinery at El Obeid El O·beid also Al U·bay·yid A city of central Sudan southwest of Khartoum. Founded in the 1820s, it is an important transshipment center. Population: 356,000. officially opened July 22, 1996 and is capable of handling up to 10,000 bopd. Arakis Energy Corp., a Canadian independent oil exploration company, is developing a 12.2 million acre concession in the Republic of Sudan. CONTACT: Arakis Energy Corp. David Harrison David Harrison may refer to:
http:\\www.arakis.com (Internet) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion