Oracle Energy to drill Fatima prospect in October
Posted: 25 September 2006
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Oracle Energy says that preparations are actively underway to drill the Fatima-1 well on the Fatima prospect, Block 22, Yemen . The drilling rig is being mobilized and drilling is scheduled to commence mid-October 2006.
The well is planned to a total depth of 2250 meters and shall target the Middle Miocene that tested hydrocarbons in the Jaizan wells to the north, across the border in Saudi Arabia .
Oracle Energy Corp. holds a 15% participating interest in block 22, which encompasses 8,151 square km within the Tihama Basin in the western region of the Republic of Yemen . Yemen Mayfair Petroleum Corp. (YMPC) and its partners have invested in excess of U.S. $20 million on exploration programs to date. Principals of YMPC were instrumental in the discovery of Yemen 's first giant oil field in the mid-1980's, located in the Marib basin. Block 22, was awarded to YMPC in 1993.
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