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Enegi Oil Prepares To Start Drilling At Black Spruce In Newfoundland

Mon, 30th Sep 2013 11:10

LONDON (Alliance News) - Enegi Oil PLC Monday said it is developing its multi-well drilling programme plans in Newfoundland after expanding the site's target area.

The oil-and-gas exploration and development company, which also operates in the UK North Sea, Ireland and Jordan, said the Black Spruce Exploration site tests will target more favourable locations and equipment is being prepared to start drilling.

The company said it has applied for regulatory approval for the process and will provide shareholders with an update as the programme moves forward.

Enegi shares were down 4.2% to 8.50 pence Monday.

By Tom McIvor;; @TomMcIvor1

Copyright 2013 Alliance News Limited. All Rights Reserved.

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