Drilling Update On Exploration Well In Cambodia

Friday, Jul 25, 2008Singapore Petroleum Company Limited (“SPC” or “the Company”) announced today that the Vimean Morodok MahaNorkor-1 exploration well (“the Well”) in Cambodia Block B (“the Block”) was plugged and abandoned at 2,930 metres with non-recoverable oil shows. SPC share of the drilling costs amount to approximately US$3.0 million (about S$4.0 million). This follows the Company’s earlier announcement dated 8 July 2008 (SGX Announcement No. 00051).Commenting on the drilling results, SPC Vice-President (Exploration & Production), Mr Brian Boslaugh said, “SPC and its partners will continue to work closely to undertake technical works for further evaluation of the Block’s prospects”.The Well is situated in Block B, offshore Cambodia, east of the Khmer sub-basin, and in water depth of about 75 metres. The well location... [read full story]