3 Jan 2013 07:05
Wessex Exploration PLC
("Wessex" or "the Company" (AIM:WSX))
Guyane GM-ES-3 Well Spudded
Wessex is pleased to announce that GM-ES-3, the second well of the current four well programme in the Guyane Maritime Permit (French Guiana), was spudded by Shell as Operator on 29 December 2012.
This well has been located to test the Priodontes Prospect and provide further geological data critical to gaining a better understanding of the potential of this area as a new offshore oil province.
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, 45%), Tullow (27.5%), Total (25%) and Northern Petroleum (also a 1.25 per cent holder through owning the remaining 50 per cent interest in Northpet Investments Limited).
Malcolm Butler, Chairman of Wessex stated:
"The joint venture with Shell, Tullow, Total and Northern Petroleum is continuing its vigorous exploration and appraisal programme in the Guyane Maritime Permit. This is the second well in the four well programme to assess the potential of the deep waters offshore French Guiana as a new oil province. I look forward to updating shareholders on progress in the coming months."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
Wessex Exploration PLC www.wessexexploration.com Malcolm Butler Chairman +44 (0) 1225 428139
Andy Yeo Chief Financial Officer
WH Ireland Limited www.wh-ireland.co.uk
John Wakefield /Marc Davies (Corporate Finance) +44 (0) 117 945 3470
Ruari McGirr /Sebastian Wykeham (Institutional Sales) +44 (0) 207 220 1691
Yellow Jersey PR +44 (0) 776 853 7739
Dominic Barretto dominic@yellowjerseypr.com