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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Cds Oil & Gas | LSE:CDS | London | Ordinary Share | GB00B1XN5G38 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2413M CDS Oil & Gas Group PLC 22 January 2008 126 Brompton Road London, United Kingdom SW3 1JD E-Mail: info@cds.com.py Web Site: www.cdsogg.com NEWS RELEASE For release: Tuesday, January 22, 2008 CDS PROVIDES EXPLORATION PROGRAMME UPDATE ON ITS CHACO BASIN PROPERTIES IN PARAGUAY LONDON, England: 22 January 2008 - CDS Oil & Gas Group plc ("CDS" or the "Company"), the AIM-quoted oil and gas explorer (CDS.L), is pleased to provide an update on the comprehensive exploration programme being undertaken on its Chaco Basin properties in Paraguay. Harmattan FZE of Fujairah, UAE has commenced a 2-D seismic programme in the immediate area around the Emilia well and will continue to complete the 700km survey on the Boqueron Block, with the 281km programme on the Gabino Mendoza Block to follow. This programme will substantially add to the 2-D seismic database which was compiled by earlier exploration companies in the 1970s and 1980s and which was re-processed by CDS in 2007. The Minister of Public Works and Communications and the Vice Minister of Mines and Energy of the Government of Paraguay as well as the Governor of the Boqueron Province visited the Emilia work site for the "official" start of the seismic programme. They were accompanied by CDS Energy management. Carson Helicopters of Perkasie, Pennsylvania has completed a 9,200 km aeromag and aerogravity programme over the Boqueron, Gabino Mendoza and PG&E Blocks. Final results from analysis of data are expected in mid February 2008. ETI of Houston, Texas, has commenced a reconnaissance geochemical programme on the Gabino Mendoza and Boqueron Blocks and will complete the programme over the three blocks after the rainy season. Line opening for the geochem and seismic programmes has been completed on the Gabino Mendoza Block and is 60% completed on the Boqueron Block. This work has been undertaken by Paraguayan contractors. Once these work programmes are completed the results of the three surveys will be correlated and used to select drill targets. It is expected that drilling will commence in the second half of 2008, depending upon rig availability. CDS is a UK company which, through its Paraguayan subsidiary, CDS Energy S.A., has a 98.1% working interest in three large blocks with substantial oil and gas exploration potential in the prospective eastward extension into north-west Paraguay of the productive Bolivian Chaco Basin. For further information: CDS Oil & Gas Group Tel: +41 22 700 68 60 Patrice Roman, Chief Executive Officer Hanson Westhouse Tel: 020 7601 6100 Louis Castro / Richard Baty UK Enquiries: Hudson Sandler Tel: 020 7796 4133 Jessica Rouleau / Sandrine Gallien / Fran Read Other Enquiries B4 Communication Tel: +41 22 592 50 22 Claude Baumann / Frederic Jacquemoud This information is provided by RNS The company news service from the London Stock Exchange END MSCKGGZMNMFGRZM
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