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Monday, June 4, 2007
In Namibia EnerGulf Resources and its partners on Block 1711 received an extension on their work program for 2007 and 2008. The partners now have until October 31, 2008 to drill their first well. The full exploration period however remains the same and ends March 2010. A minimum of $84 million will be spent over the initial four year period.
In addition to the news of the extension EnerGulf announced that several major contracts for the block had been awarded. The first was for the development of the drilling program and engineering monitoring, which went to Halliburton. Schlumberger’s seismic unit, WesternGeco, was awarded the contract for the reprocessing and reinterpretation of 2D and 3D seismic data. The last award went to Namibian company Risk Based Solutions who will provide EnerGulf with the Environmental Impact Assessment Study.
Company Chairman Jeff Greenblum commented, “While the extension provides an extra six months to fulfill the first exploration and drilling phase requirements, we hope to drill the
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