Groundstar Resources starts drilling in Egypt’s Eastern DesertMarch 15th, 2008 - 12:18 pm ICT by admin
Nicosia, Mar 15 (ANI): Groundstar Resources, a Canadian junior oil and gas company, which is actively pursuing exploration opportunities in the Middle East, North Africa and Guyana, has recently announced that it has started drilling in the West Esh El Mallaha (WEEM) Block concession.
The Canadian company holds a 20 per cent working interest in the concession, which covers an area of 1,328 square kilometers in Egypt’s Eastern Desert and plans to spend more than 3.5 million dollars in the block.
The Malak-1 well will be drilled to a total depth of 12,500 feet over a period of approximately 30 days and is the first exploration well of a two well back-to-back drilling program.
Each well will be tested over an approximate two-week period.
Depending on well results, a company statement said, additional wells could be drilled immediately after completion and testing of the first two wells.
The operator of the block, Aminex Egypt and Groundstar Resources have contracted the drilling rig for 18 months on a call-out basis to drill on the WEEM and West Kom Ombo blocks.
The Canadian company has made it clear that its aim is evolve from a pure exploration into an exploration and production company in the oil sector, despite the significant constraints facing the petroleum industry, including high costs, skilled labour shortages, very tight drilling rig and seismic crew availability. (ANI)
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