Oilex Ltd - Australian oil and gas explorer - Completes agreement with Burgate Exploration & Production Ltd, to acquire a 100% participating interest in the Doyle-Peel licence in East Irish sea. Says East Irish Sea Basin is a prolific basin which has produced around 8 trillion cubic feet of gas to date with considerable existing gas production, gathering, processing and transportation infrastructure. The depth to the target reservoirs is less than 2,000 metres thus meaning modest drilling costs, it adds.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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