Strictly: Oil and Gas Exploration Companies Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Oil and Gas Exploration Companies

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: PuddleGlum who wrote ()	9/2/1998 10:02:00 PM
From: Mike Boyd	Read Replies (1) of 318

SIGNIFICANT NATURAL GAS DISCOVERY AT TEMANE-3 WELL September 2, 1998 Leopardus Resources Limited (LEP.V) and Zarara Petroleum Resources Limited (the "Leopardus/Zarara Group") are pleased to announce the successful testing of the Temane-3 exploration well in Mozambique. The Temane -3 well has tested gas at a rate of up to 25 million cubic feet per day (mmcfpd) from the Cretaceous Grudja G-9 horizon, confirming a potentially significant natural gas accumulation which was first indicated by the Temane-1 and Temane-2 wells drilled by Gulf Oil in 1956 and 1967 respectively. The Nabors 235 drilling rig has been moved to the Temane-4 location approximately 11 kilometres southwest of Temane-3 for the first of up to a further 5 appraisal wells. Drilling on Temane-4 commenced on August 24th, with a further US$50 Million having been budgeted for drilling, seismic and engineering activities on the Temane prospect over the next 18 months. The development consortium is comprised of ARCO Mozambique (Temane) Ltd. as operator with 47.62%, Sasol Petroleum Temane Limited of South Africa with 47.62% and the Leopardus/Zarara Group holding the remaining 4.76%. Discussions are ongoing for the possible sale of natural gas to SASOL in South Africa and to JCI Limited for use in its proposed Hot Bricquetted Iron plant in Beira, Mozambique. Additional markets are expected to develop in the Maputo and Beira corridor areas of Mozambique. Leopardus Resources Limited and Zarara Petroleum Resources Limited are both subsidiaries of Zarara Oil and Gas Limited of Jersey, Channel Islands. Leopardus and Zarara are currently participating with major industry partners in the exploration and development of natural gas reserves in Mozambique, and are in the process of completing a merger whereby Leopardus will become a wholly-owned subsidiary of Zarara Oil and Gas Limited following a one for one share exchange to be effected through a plan or arrangement. For further information, please contact Mike Boyd toll-free at (888) 988-3788. On behalf of the Board of Directors of Leopardus Resources Limited "STUART W. ROGERS" Stuart W. Rogers Director Zarara Petroleum Resources Limited "DENNIS G. STRAUCH" Dennis G. Strauch Director For further information, please call investor relations at (888) 988-3788.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next