13 Aug 2013 07:00
Release: 0700 on 13 August 2013
Wessex Exploration PLC
("Wessex" or "the Company")
French Guiana GM-ES-5 Well Spudded
Wessex Exploration PLC (AIM: WSX) announces that GM-ES-5, the final well of the current four well drilling programme in the Guyane Maritime Permit (offshore French Guiana) has been spudded by Shell as Operator on 10 August 2013.
Wessex, through holding 50 per cent of Northpet Investments Limited, owns a net 1.25 per cent interest in the offshore exploration licence 'Guyane Maritime'. Wessex is in partnership with Shell (Operator, holding 45 per cent), Tullow Oil (27.5 per cent), Total (25 per cent) and Northern Petroleum Plc (also holding 1.25 per cent through owning the remaining 50 per cent interest in Northpet Investment Limited).
In accordance with the AIM Rules - Guidance for Mining and Oil & Gas Companies, the information contained in this announcement has been reviewed and signed off by the Chairman of Wessex, Dr Malcolm Butler PhD, BSc, CGeol, FGS who has over 40 years' experience as a petroleum geologist. He has compiled, read and approved the technical disclosure in this regulatory announcement. The technical disclosure in this announcement complies with the SPE/WPC standard.
For further information please contact:
Contacts
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Wessex Exploration PLC | www.wessexexploration.com |
Andy Yeo, Chief Financial Officer | +44 (0) 1225 428139 |
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WH Ireland Limited | www.wh-ireland.co.uk |
John Wakefield (Corporate Finance) | +44 (0) 117 945 3470 |
Ruari McGirr / Sebastian Wykeham (Institutional Sales) | +44 (0) 207 220 1691 |
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Yellow Jersey PR | +44 (0) 776 853 7739 |
Dominic Barretto | dominic@yellowjerseypr.com |
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Notes to Editors on WSX:
Guyane
Wessex holds a net 1.25% interest in the Exclusive Exploration Licence (EEL) covering an approximate 24,100 sq.km offshore area of Guyane (a French prefecture previously known as French Guiana). The EEL interest is held via a 50/50 joint venture between Wessex and Northern Petroleum Plc, using Northpet Investments Limited as the holding company with a total interest of 2.5%. The other partners in Guyane are Shell (45% and operator), Tullow (27.5%) and Total (25%).
Juan de Nova
Wessex holds a 70% interest in the Juan de Nova Est Permit, covering 9,010 sq. km in water depths ranging from 200m to 3,000m, to the east of Juan de Nova Island in the Mozambique Channel. Wessex has been designated as operator, subject to the approval of the French authorities. Global Petroleum Limited (AIM: GBP, ASX: GBP) has a 30% interest.
Southern United Kingdom
Wessex holds three licences in southern United Kingdom - PEDL 238: 50%; PEDL 239: 25%; P1928: 35% - alongside its partner and operator, NWE Mirrabooka (UK) Pty. Ltd (a fully owned subsidiary of ASX listed Norwest Energy NL).
Saharawi Arab Democratic Republic (SADR, Western Sahara)
Wessex holds three blocks - Bojador (39,983 sq.km), Guelta (15,760 sq.km) and Imlili (16,955 sq.km) - under Assurance Agreements which cause Production Sharing Contracts to come into effect once the SADR government is able to take control of the territory. Wessex is the designated operator and holds a 50% interest; Tower Resources (AIM: TRP) has the other 50% interest.