MOG14 Nov 2011 08:00
Update on Malta, Offshore Area 4 PSC (Blocks 4,5,6,7)
The Board of Mediterranean Oil & Gas Plc (AIM: MOG), the central Mediterranean focused producer, developer and explorer of oil and gas assets, is pleased to announce that the Company, through its wholly owned subsidiary Malta Oil Pty Ltd, has now entered into a contract with Fugro-Geoteam Pty Ltd ("Fugro-Geoteam"), who will undertake the acquisition of 1,000 square kilometers of long offset 3D seismic exploration data on behalf of the Company, in relation to its licence commitment at Area 4 Offshore Malta.
Fugro-Geoteam's vessel, R/V Geo Barents, has commenced mobilisation and the Company expects 3D seismic acquisition to commence on or about Wednesday 16th November 2011. The estimated duration of the survey is about 30 days. Processing of 3D data will start immediately after the completion of the survey, with the objective of obtaining the results towards the end of Q1, 2012.