Red Sea Oil Corporation (RSO) Message Board

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Gold/Mining/Energy : Red Sea Oil Corporation (RSO)

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To: Donald Lickman who wrote (140)	4/16/1998 9:03:00 AM
From: Tomas	Read Replies (2) of 332

Reservoir studies have indicated that the field is capable of producing 27000 barrels of oil per day from the Zelten and Facha formations alone. Numerous other leads on the Block have been identified and an aggressive exploration program is planned. The flow rate of the En Naga North discovery well (6517 barrels of oil per day without pumping) far exceeds the average in the area. With a string of successful wells by Lasmo in the Murzuk Basin and Lundin Oil's success in the Sirte Basin, Libya is entering a new phase of important oil discoveries which may be a new discovery trend similar in magnitude to the fields discovered during the 1960's. A two well appraisal program is scheduled for the third quarter of 1998 as well as a 1600 km seismic acquisition program. Production is expected to commence in 1999. From Lundin Oil Corporate profile, Wed 15 Apr 1998 greywolf.se

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