Replies to post #48 on Oracle Energy fka OCL

[Tackler]

Promo starting for drilling in Yemen, I wonder if they can run this over $1 again?

Oracle Energy operator to drill Fatima in mid-October

2006-09-20 16:23 ET - News Release

Mr. Nasim Tyab reports

FATIMA PROSPECT, BLOCK 22, YEMEN TO BE DRILLED MID-OCTOBER

Oracle Energy Corp. has learned from project operator Yemen Mayfair Petroleum Corp. (YMPC) that preparations are actively under way to drill the Fatima-1 well on the Fatima prospect, block 22, Yemen. The drilling rig is being mobilized and drilling is scheduled to commence mid-October, 2006.

The well is planned to a total depth of 2,250 metres and shall target the middle Miocene that tested hydrocarbons in the Jaizan wells to the north, across the border in Saudi Arabia.

Oracle Energy holds a 15-per-cent participating interest in block 22, which encompasses 8,151 square kilometres within the Tihama basin in the western region of the Republic of Yemen. YMPC and its partners have invested in excess of $20-million (U.S.) on exploration programs to date. Principals of YMPC were instrumental in the discovery of Yemen's first giant oil field in the mid-1980s, located in the Marib basin. Block 22 was awarded to YMPC in 1993.