Global Santa Fe (GSF) (formerly Global Marine) Message Board

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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)

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To: jackie who wrote (541)	12/29/1997 2:08:00 AM
From: arizona_ice_tea	Read Replies (1) of 2282

GLM to drill off Newfoundland Coast for Mobil Dec 22, 1997 (Bloomberg)-- Global Marine said it expects to sign a contract with Mobil Corp.'s Canadian unit to begin exploratroy drilling for oil and gas nea the oil-rich Hibernia field off Newfoundlands's coast as early as May. "We have a commitment from Mobile for one year plus beginning sometime between May and August," said Dave Herasimchuk, Global's vice president of market development, said in an interview. "We are still talking to Mobil over the timing of the work and the number of wells." The company declined to disclose financial details of the contract. Bill Simpkins, a spokesman for Mobil Oil Canada Properties, said Global will beginn drilling on the Hebron property, located near the 750 million-barrel Hibernina oil field. Global said its Vinlander semi-submersible rig will be moved to eastern Canada from its current location in the North Sea. The rig is an Aker H-3.2 design and is equipped to drill in 1'500 feet of water.

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