Global Natural Resources reports successful Egypt Qarun A-8X development well.HOUSTON--(BUSINESS WIRE)--April 4, 1996--Global Natural Resources Inc. (NYSE NYSE See: New York Stock Exchange : GNR GNR Gram-negative rods Infectious disease Bacilli that don't absorb gram stain–ie, are pink; most clinically important GNRs are coliforms: Enterobacteriaceae–eg, Escherichia, Klebsiella, Proteus, Pseudomonas, Salmonella, Shigella ) along with its contractor - partners Phoenix Resources Companies Inc. (AMEX AMEX See: American Stock Exchange : PHN Postherpetic neuralgia (PHN) The term used to describe the pain after the rash associated with herpes zoster is gone. Mentioned in: Shingles PHN Postherpetic neuralgia, see there ) and Apache Corp. (NYSE: APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture ) today announced the successful Qarun A-8X development well. The Qarun A-8X, the seventh successful well drilled in the Qarun A Field, encountered 356 feet of net Bahariya and Kharita pay, the thickest oil section drilled so far in the field. In addition, the well encountered new oil bearing zones in the Abu Roash, the first time that this unit has contained oil in the field. Approximately 6,000 barrels of oil per day are currently being trucked to a nearby refinery. Fabrication and installation of pipeline and storage facilities and two 20,000 barrel per day production trains, are ongoing in anticipation of fourth quarter production into the SUMED Pipeline. Global Natural Resources holds a 25 percent contractor interest. Phoenix is the operator and owns a 50 percent interest. Apache holds the remaining 25 percent interest. Global Natural Resources is engaged in worldwide oil and gas exploration and production and in natural gas gathering, processing and marketing. The Company has operations and interests in North America, Tatarstan-Russia, Indonesia, Malaysia, the Ivory Coast and Egypt. CONTACT: Global Natural Resources Inc., Houston Robert F. Vagt or Gerald R. Colley, 713/880-5464 |
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