STOCKHOLM (Thomson Financial) - Lundin Petroleum AB said it has acquired a 34 pct stake in an exploration oil block off the coast of Cambodia, from Medco International Petroleum Ltd, Kuwait Energy Company KSCC, and JHL Petroleum Ltd, for an undisclosed sum.
The acquired Block E covers 5,559 square kilometers in Cambodia's Pattani Basin.
'The block contains several plays in addition to rift basin, fault traps and several structures have been identified,' said Lundin.
The company said a 2D seismic survey has recently been completed and is being processed. There are future plans to carry out a 3D seismic survey and drill an exploration well.
Lundin's partners in Block E will be Medco (operator), with a 41.25 pct stake, Kuwait Energy Company, 20.63 pct, and JHL Petroleum, 4.13 pct.
simon.richardson@thomson.com
The acquired Block E covers 5,559 square kilometers in Cambodia's Pattani Basin.
'The block contains several plays in addition to rift basin, fault traps and several structures have been identified,' said Lundin.
The company said a 2D seismic survey has recently been completed and is being processed. There are future plans to carry out a 3D seismic survey and drill an exploration well.
Lundin's partners in Block E will be Medco (operator), with a 41.25 pct stake, Kuwait Energy Company, 20.63 pct, and JHL Petroleum, 4.13 pct.
simon.richardson@thomson.com
1 comment:
Massive acquisition is a great signal is good for all citizen, rich or poor. Thus, we need a lot more that. Therefore, let's move it, buy/sell, buy/sell, buy/sell, go, go, go, and good luck to all!
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