Vanco Announces the Commencement of Offshore Madagascar 3D Seismic Acquisition Program.HOUSTON -- Vanco Madagascar Ltd, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Vanco Energy Company, announces that the Majunga Offshore Profond joint venture group is conducting a comprehensive 3D seismic acquisition program covering 3,657 square kilometers of the deepwater portion of the block. Majunga Offshore Profond is situated offshore northwestern Madagascar and encompasses approximately 4.4 million acres. The survey will further evaluate the hydrocarbon potential of the Majunga salt basin. The current 3D program is designed to identify and evaluate potential drilling locations for an exploratory drilling program. The seismic data is being acquired by PGS PGS Pages PGS Petroleum Geo-Services PGS Planning Gain Supplement (UK land tax) PGS Parallel Giant Slalom (skiing and snowboarding competitions) PGS Plant Genetic Systems (Belgium) utilizing its state-of-the-art vessel, M/V M/V Motor Vehicles M/V Motor Vessel M/V Merchant Vessel Ramform Challenger. The acquisition program, which commenced on 31 July, represents the first 3D seismic ever acquired in East Africa. The Vanco Group is exploring in Madagascar under a Production Sharing Contract signed with OMNIS OMNIS Organizational Modelling of Information Systems (systems approach to business modeling to create an information system) , the national oil and gas company, in March of 2001. The joint venture group comprises Vanco Madagascar Ltd. (Operator - 30%), ExxonMobil Exploration and Production Madagascar Majunga Ltd. (40%) and Norsk Hydro Norsk Hydro ASA (OSE: NHY, NYSE: NHY) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. Hydro is the fourth largest integrated aluminium company worldwide. It has operations in some 40 countries around the world and is active on all continents. Majunga AS (30%). Vanco Energy Company is a Houston-based independent oil and gas company engaged in international exploration and operations. Vanco is a leading deepwater license holder in offshore Africa with over 20 million net acres offshore Morocco, Cote d'Ivoire, Madagascar, Ghana and Equatorial Guinea. |
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