Tue, 25th Mar 2008 14:36 (Repeating to clarify in headline only that amount is 5 mln barrels)
LONDON (Thomson Finan
cial) - Mediterranean Oil & Gas PLC said independent reserve engineers have certified about 5 mln barrels oil reserves at Ombrina Mare 1 on the Ombrina Mare Oil and Gas Field.
The company estimates the Ombrina Mare Oil Field contains Contingent Oil Resources of 23 to 60 mln barrels, in addition to the 5 mln barrels reserve.
On its OM2 well, the company said the Jack-Up Rig Galloway is presently preparing the sub-sea wellhead site in preparation to spud it.
After it has completed action on OM2, the company will establish the most appropriate development plan for the oil field and apply for a production concession.
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