Eurogas Corporation has announced in a press release that preparations are underway for the drilling of a well on the Corporation's Bazma block in southern Tunisia.
Eurogas expected the drilling operations to be carried out during the third week in May, as it will be drilled to a depth of 2,550 meters to test the TAGI Triassic sand.
According to the press release, the Eurogas holds working interests of 95%, 65% and 100% respectively in the Bazma, Jorf and El Hamra blocks, which cover over 2.6 million acres in Southern Tunisia. During the past two years, Eurogas has conducted an extensive geological and geophysical study of the Triassic play fairway in which the blocks are situated.
Eurogas which is Eurogas Corporation is listed on the Toronto Stock Exchange (EUG) and is engaged in oil and gas exploration and development activities in Canada, Tunisia and Spain, has signed a letter of intent that, subject to the satisfaction of certain due diligence requirements, will result in another oil and gas company earning a 50% working interest in the three Eurogas blocks – Albawaba.com
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