Agriterra Ld Regulatory News (AGTA)

30 May 2007 09:10

White Nile Limited30 May 2007 White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas 30th May 2007 White Nile Ltd ('White Nile' or 'the Company') Southern Sudan Update White Nile Ltd, the AIM listed oil and gas exploration company, is awaitingofficial notification from the Government of Southern Sudan as to the conclusionof negotiations taking place in Khartoum, between representatives of thegovernments of Northern and Southern Sudan in regards to oil exploration andproduction issues in Southern Sudan. These encompass all oil licence areas inSouthern Sudan including Block Ba, where White Nile has its rights granted bythe Government of Southern Sudan. White Nile has received early indicationsthat the discussions will establish clarity of title for Block Ba and theCompany will update its shareholders when official clarification has beenobtained. The Company is also pleased to announce an update on its drilling programme inSouthern Sudan. Its first exploration well, Kedelai-1, situated in Block Ba 200km north of Juba in the Jonglei State of Southern Sudan, spudded on 19 April2007. With the onset of the rainy season, activity on the drill site as plannedhas been temporarily suspended, with the well at a total depth of 2,408m. Therig is being cold stacked on the well location and drilling will be resumed atthe beginning of the next dry season - Q4 2007. Following resumption ofdrilling, the Company plans to extend Kedelai-1 to approximately 3,000m toevaluate reservoir objectives in the Aradeiba and Bentiu formations. White Nile is also preparing additional drilling locations on two furtherprospects identified through its initial seismic programme in the Jonglei State.This is where the Company believes the Muglad Basin, which is productive atThar Jath, Mala, Heglig and Unity to the northwest of Block Ba, extends into theconcession area. Furthermore, the Company is currently concluding plans to perform a 2D seismicsurvey in the Pibor Post basin in the eastern part of Block Ba approximately 200km to the east of the the current drilling operations. Seismic shooting willbegin at the beginning of the next dry season. * * E N D S * * For further information please visit www.whitenile-ltd.com or contact: Phil Edmonds White Nile Ltd Tel: 0845 108 6060Jonathan Wright Seymour Pierce Ltd Tel: 020 7107 8000Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange