International Petroleum Corporation Signs Cooperation Agreement With Other Oil Companies Over Falkland Islands.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 3, 1997--International Petrol (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :IRP See Interest rate parity line. ) (Nasdaq:IRPPF) International Petroleum Corporation (the "IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. ") is pleased to announce that its subsidiary, IPC Falklands Limited, operator of Tranche F, offshore Falklands Islands in partnership with Sands Petroleum AB ("Sands"), has signed the Falklands Offshore Sharing Agreement (FOSA FOSA Friends of South Asia FOSA Formula One Supporters Association (UK) FOSA Federation Of Spine Associations FOSA Front Office Service Activities FOSA Flight Operations Support Annex FOSA Federal Operational Staging Area ). FOSA is a cooperation agreement between the offshore Falklands area operators (the "Operators"). The Operators have agreed to come together to share a drilling rig and common services. This is a unique agreement for the oil industry which will result in the drilling of at least five consecutive wells beginning in May, 1998. The agreement will enable the Operators to reduce the costs of the upcoming drilling campaign and will assist in minimizing the impact on the offshore Falklands local infrastructure. To date, IPC has carried out a 2D seismic acquisition program of over 1,600 kilometres and an aeromag survey over the whole area of Tranche F which has delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. several drillable prospects of substantial size. IPC plans to drill its first exploration well in the fourth quarter of 1998. IPC and Sands each hold a 50 percent interest in the block. Please see attached map. In South East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. , the Company is preparing to spud the North West Bunga Raya Raya may refer to:
ON BEHALF OF THE BOARD "Ian H. Lundin" President -0- Note to Editors: Location map available from the company at the telephone number listed above. CONTACT: International Petroleum Corporation Sophia Shane, 604/689-7842 Fax: 604/689-4250 |
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