Saturday, November 26, 2016 12:30:16 PM
COPL: Exxon starts drilling Mesurado exploration well offshore Liberia
Share
11:11 23 Nov 2016
Exxon has started drilling the Mesurado-1 which has the potential to discover billions of barrels of oil offshore Liberia.
Oil rig workers drilling offshore
The well is located 50 miles from the Liberian coast
Shares in Canadian Overseas Petroleum Limited (LON:COPL) advanced on Wednesday as US oil supermajor ExxonMobil began drilling a high impact exploration well offshore Liberia.
COPL owns a 17% stake in the exploration project, though its share of drilling costs are covered by Exxon.
The well, known as Mesurado-1, is located some 50 miles from the Liberian coast and is in 2,500 metres of water.
Mesurado’s target has been estimated to host 1.78bn to 4.2bn of gross prospective recoverable oil resources, which would equate to between 305mln and 720mln barrels net for COPL’s interest in the project.
The project is on trend with exploration successes in neighbouring countries such as Sierra Leone, Senegal, Cote D’Ivoire and Ghana.
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM