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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Pilbara Minerals Limited | TG:PLR | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.7978 | 1.7966 | 1.8298 | 0.00 | 06:45:38 |
RNS Number:1362L Paladin Resources PLC 15 May 2003 PALADIN RESOURCES plc ("Paladin") Sofie 1 Oil Discovery, Offshore Denmark The following press release was issued earlier today by the Danish Energy Authority regarding the Sofie-1 oil discovery in which Paladin Oil Denmark Limited, a wholly owned subsidiary of Paladin, holds a 30 per cent interest: " Oil Discovery in the Siri Area DONG Efterforskning og Produktion A/S, operator for the oil companies in licence 6/95, has completed the exploration well Sofie-1 (5605/13-3) ca. 20 kilometres northeast of the Siri field in the North Sea. The well was drilled with the jack-up rig Maersk Gallant. The well was spudded 3 May 2003 at the location 56degrees34'55.28" N; 05degrees 09'51.18" E (UTM zone 31; 6,273,096 N; 632,936 E), where the water depth is 59 metres. Sofie-1 was drilled as a vertical well and reached total depth at 1988 metres below mean sea level in chalk of Danian age. An oil discovery was made in sandstones of Paleogene age. Cores, logging results and oil samples were acquired for further evaluation of the discovery. The Sofie-1 well is now being plugged and abandoned. Maersk Gallant will subsequently be moved to the Siri production platform, where it will be used for accommodation during work in preparation for tie-in of the Nini and Cecilie fields. The 6/95 licence group consists of the following companies: Company Share DONG Efterforskning og Produktion A/S 50 % Paladin Oil Denmark Limited 30 % DENERCO OIL A/S 20 % " Commenting on the release, Roy Franklin, Chief Executive of Paladin, said: "From acquisition in 2001, the performance of our Danish interests has been excellent. This is further good news - our preliminary analysis would suggest that the discovery can be developed as a satellite to the Siri Field although further work will be required to confirm its economic viability." 15 May 2003 ENQUIRIES: Paladin Resources plc Tel: 020 7024 4500 Roy Franklin College Hill Tel: 020 7457 2020 James Henderson Phil Wilson-Brown This information is provided by RNS The company news service from the London Stock Exchange END MSCUVOAROARVAAR
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