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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pan European Terminals | LSE:PAN | London | Ordinary Share | GB00B12V3082 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 22.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS Number:4667S Baltic Oil Terminals Plc 07 March 2007 Baltic Oil Terminals PLC ("Baltic"or "the Group") Exploration Update Baltic Oil Terminals PLC (AIM: BTC), the owner and operator of oil terminals in Kaliningrad and with significant interests in exploration assets in the Kurgan region of Western Siberia, Russia, announces results from the 2D seismic conducted on the southern section of its Mokrousovsky licence block. These results follow the receipt by Baltic of an interim Seismic Interpretation and Mapping Report by RPS Energy. During 2006, all of the company's licences were surveyed by Exotrad, one of the world's leading providers of passive seismic and sub-surface oil and gas surveys. Significant geochemical anomalies were identified in five of the seven licences held, suggesting the possible presence of hydrocarbon structures. South Mokrousovsky is the second anomaly to surveyed using conventional 2D seismic, over which 339 km of new seismic has been shot. Highlights: * One structural prospect has been identified in the south west of the Mokrousovsky licence area. * The structure has a maximum area of closure of approximately 72 sq kms, of which approximately 52 sq kms lie within the licence area. * The surface geochemical anomaly lies over the north eastern flank of the structure within the licence area. * A drilling location has been recommended by RPS for the prospect, based on the strong structure and geochemical coincidence. In their report, RPS identified five key seismic horizons that have been mapped in Mokrousovsky. One prospect has been identified in the south west of the block and the structure, which has a maximum aerial closure of approximately 72 sq kms, extends outside of the licence area, with an area of closure of approximately 52 sq kms inside the licence area. However, the surface geochemical anomaly lies over the north eastern flank of this structure and is within the licence area. A drilling location has been identified and recommended by RPS. The Directors believe that the ongoing coincidence of the structures identified by the seismic with the geochemical anomalies mapped by Exotrad is extremely encouraging. Furthermore, Baltic's seismic database, consisting of both legacy data and newly obtained results, now totals over 3,000 kilometres on the area and is steadily growing. As the Company acquires more knowledge, including geochemical data and well passports, the risk associated with this type of exploration should decrease. Baltic's first well, Privolny-1, is due to spud imminently. The results of the Privolny well should provide Baltic with further information, following which the ongoing drilling programme will be determined. Simon Escott, CEO of Baltic, said: "The fact that a very significant sub-surface structure has been identified in south Mokrousovsky is extremely positive news. As with the nearby Privolny block, this drillable prospect correlates with the independent geochemical anomaly mapped last year and this in itself is significant. We continue to work closely with RPS in determining the optimal way to maximise any potential upside, particularly in view of the Privolny-1 well that should provide invaluable new data in the coming weeks." 7 March 2007 Enquiries Baltic Oil Terminals plc +44(0) 1908 547936 Simon Escott Pelham PR Archie Berens +44(0) 207 743 6679 Alisdair Haythornthwaite +44(0) 207 743 6676 Notes to Editors Baltic Oil Terminals is a leading AIM listed infrastructure company with several oil terminal businesses in Kaliningrad, Russia. The Group has an extensive operational programme and is targeting capacity of 800,000 tonnes per month by 2009. In addition to its infrastructure activities, Baltic is also the operator for exploration licences in the Kurgan region of Western Siberia, Russia and plans, through its 50% subsidiary Zauralneftegaz, to drill up to four wells, initially on its Privolny licence block. This information is provided by RNS The company news service from the London Stock Exchange END MSCUUUAGWUPMUUM
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