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Article: WEST OIL: West Oil to drill first well in Timor Sea >T.
- Article from:
- M2 Presswire
- Article date:
- September 17, 1999
CopyrightCOPYRIGHT 1999 Normans Media 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)
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M2 PRESSWIRE-17 September 1999-WEST OIL: West Oil to drill first well in Timor Sea (C)1994-99 M2 COMMUNICATIONS LTD
RDATE:160999
Junior oil and gas explorer West Oil NL has achieved a major milestone in its strategy to exploit its extensive Timor Sea exploration activities by reaching agreement to farm out its 33.3% interest in ZOCA 96-16 to Phillips Australasia Exploration Company, or its designee. This agreement is subject to a formal farmin agreement being signed.
Subject to Joint Authority approval, Phillips will drill and, if warranted, test a well on the Coleraine Prospect next year. It will also become the operator.
West Oil is ...