Oracle Energy begins drilling at Fatima prospect
Posted: 16 October 2006
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Oracle Energy and its partner Yemen Mayfair Petroleum Corp. report that the Fatima-1 well, Block 22, Yemen was spudded October 12, 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 . 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. |
