Petrel Resources - moderated discussion/research part II
Fatgreek - Fri, 30 Dec 05 :
JORDANIAN EXPLORATION
Petrel has also signed a Memorandum of Understanding with the Jordanian government's Natural Resources Authority to re-process seismic and conduct other exploration work on the 8,750 km2 East Safawi Block on the Jordanian Basalt Plateau of the Arabian Desert close to the Iraq border. Petrel has the right to opt for a Production Sharing Agreement. The work programme, which includes seismic reprocessing and core sample analysis, started immediately and progressed smoothly. Our technical staff is completing their work as of June 2005. We hope to be able to exercise our option to convert to a Production Sharing Agreement in July.
A general Western Desert geological sampling programme is underway. Petrel's relationship with the Jordanian Natural Resources Authority gives us access to priceless well core samples and data, as well as the ability to extensively sample key outcropping rocks in the Arabian Western Desert, encompassing plays in Iraq, Jordan and Saudi Arabia. Seismic interpretation, mapping and evaluating satellite imagery is ongoing.
