Bronco Lane on the PCI trail

Happy New Year to all my readers and contributors.

OK back to business..

I never considered Medex a possible suitor for a JV with PCI but research shows that this may well be the case as the big boys take a back seat.
I think it was psonice or Olmert who first suggested Medex as a potential JV partner [to which I dismissed]

You do not hear much about Medex but thay have fingers in several pies including Tunisia and have been around since circa 1997..

Regarding Algeria, Medex hold the licences immediately adjacent to PCI's. blocks 228/229a and they have made an excellent discovery which when proved up will be a commercial entity. [just look at the flow rate and compare it to PCI's assuming that they are refering to a daily flow rate]

ALGIERS - Algeria's Sonatrach announced the discovery of a new natural gas source in the Illizi basin, Algerian radio reported. The joint discovery of the new source, with Tunisia's Medex Petroleum-North Africa, marks Sonatrach's fifth discovery this year. Tests have shown that the force of the flow can be estimated to be at about 100,000 cubic meters."

Of course any deal considering the current climate will not be as lucrative as it would have been with one of the big boys..

The hired Rig from Schlumberger has now been released but worth thinking about is the fact that Medex contracted a Rig last September for 12 months and it is currently following a work programme..perhaps this rig could be slotted into the Northern part of PCI's licence under a free carry deal..will cost PCI dear but maybe the only light in the tunnel..

Bronco...