|
|
Article: United States: Bankers Petroleum acquires remaining interest in Kucova Heavy Oil Field in Albania.
- Article from:
- TendersInfo
- Article date:
- July 4, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: sander03
Bankers Petroleum (TSX: BNK, AIM: BNK) confirmed that it had exercised its option to acquire the remaining 50% interest in the Kucova heavy oil field, in Albania from Sherwood International Petroleum for $1.5 million. Bankers is in the process of completing a work program and budget to further develop the Kucova field. The Kucova heavy oil field has in excess of 490 million barrels of original-oil-in-place, and has only produced 25 million barrels. A independent reserves evaluation of the field is expected to be completed in August.
Bankers said that it believed the project could be a candidate ...