Friday, 25 July 2008

Drilling Update On Exploration Well In Cambodia

Your Industry News
Friday, Jul 25, 2008

Singapore Petroleum Company Limited (“SPC” or “the Company”) announced today that the Vimean Morodok MahaNorkor-1 exploration well (“the Well”) in Cambodia Block B (“the Block”) was plugged and abandoned at 2,930 metres with non-recoverable oil shows. SPC share of the drilling costs amount to approximately US$3.0 million (about S$4.0 million). This follows the Company’s earlier announcement dated 8 July 2008 (SGX Announcement No. 00051).

Commenting on the drilling results, SPC Vice-President (Exploration & Production), Mr Brian Boslaugh said, “SPC and its partners will continue to work closely to undertake technical works for further evaluation of the Block’s prospects”.

The Well is situated in Block B, offshore Cambodia, east of the Khmer sub-basin, and in water depth of about 75 metres. The well location is approximately 160 kilometres southwest of Sihanoukville, and about 80 kilometres east of the Thai-Cambodian Overlapping Claims Area, in the Gulf of Thailand.

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