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Gold/Mining/Energy : Sodra Petroleum -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (67)	9/8/1998 2:47:00 PM
From: Greywolf	Read Replies (1) \| Respond to of 133

Falkland Islands Offshore Oil Exploration September/October 1998 Newsletter Progress with the Exploration Drilling Programme Three exploration wells have now been drilled into the North Falkland Basin. Drilling began in late April this year when the semi-submersible drilling platform, Borgny Dolphin, arrived from European waters and drilled the first well for Amerada Hess in Tranche A. LASMO International Limited drilled a well in Tranche C next and Shell spudded their well in Tranche B on July 5. The well was drilled to a total depth of 4,525 metres after 57 days of drilling. The rig is operating for IPC Falklands Limited during September in Tranche F to the south of Tranches A, B and C. Water depths in Tranches A and B at well locations is in excess of 400 metres while water depths in Tranche F are reduced to 250-300 metres. Amerada Hess made public that minor traces of hydrocarbons were found in their well but concluded that the traces were not present in commercial quantities. Shell also encountered hydrocarbon indications at various levels, but not in commerical quantities. It is expected that analysis of data from all the wells will be ongoing for many months. Future exploration activities will need to await these assessments. Amerada Hess and Shell plan to drill second wells following IPC's work in Tranche F.