Oil explorers round-up: Island Oil, Pantheon Resoruces, Oilex | |||||||||||||||||||||||||||||||||||||||||||||
Fri 05 Jun 2009 | |||||||||||||||||||||||||||||||||||||||||||||
Oil and gas exploration company Pantheon Resources has run into ‘blockages and delays’ in the testing of its Junoville #2 and Vision Rice University #1 prospects. The company’s chief executive officer, Jay Cheatham, said such problems were ‘not unusual when dealing with extremely high pressure reservoirs.’ Oil explorer Oilex said that drilling contractor Sedco Forex International has terminated the agreements with Oilex for the drilling of exploration wells using the Transocean Legend semi-submersible drilling rig in contract area JPDA 06-103 in the Joint Petroleum Development Area (JPDA) between Australia and Timor Leste. Oilex is actively seeking an alternative rig. Published at http://www.sharecast.com/ | |||||||||||||||||||||||||||||||||||||||||||||
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