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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Proven | LSE:PPE | London | Ordinary Share | GB00B517XC78 | ORD SHS OF 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 10.00 | 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:7174A Plectrum Petroleum PLC 24 July 2007 Press Release For immediate release: 24 July 2007 Plectrum Petroleum Plc Plectrum announces intention to convert Nabeul Permit Plectrum is pleased to announce that its wholly owned subsidiary, REAP Tunisia GmbH, has notified the Tunisian authorities of its intention to convert the Nabeul Prospection Permit into an Exploration Permit. This follows the successful acquisition of 3,178 km of 2D marine seismic reflection data which was completed ahead of schedule and within budget on 23rd June 2007. The data gathered from the just completed seismic programme will provide a much higher definition of the twelve prospects already identified from reprocessed existing 2D seismic data. Mike Evans, Plectrum's Chief Operating Officer said: "The successful completion of our recent seismic survey fulfills our commitment under the Prospection phase of the license. The raw data has been shipped to Fugro Seismic Imaging Ltd in Swanley, England, where we anticipate 12-14 weeks of processing before interpretation can begin." "Even without the interpreted new seismic data we are already sufficiently encouraged by the prospectivity previously identified to convert the Prospection Permit into an Exploration Permit." For further information, please contact: Plectrum Petroleum Plc www.plectrum.co.uk Mike Whyatt, Executive Chairman 01330 826710 Mike Evans, Chief Operating Officer Aquila Financial Limited www.aquila-financial.com Peter Reilly 020 7202 2601 Yvonne Fraser 020 7202 2609 Blue Oar Securities Rhod Cruwys/Romil Patel 020 7448 4400 Notes to Editors Nabeul Prospection Permit was granted to REAP Tunisia GmbH on 24th Jan 2006 for a period of two years. REAP Tunisia GmbH notified the "Ministere de l'Industrie de l'Energie et des PME" on 9th July 2007 of it's intention to transform the "Permis de Prospection" into a "Permis de Recherche" on the 24th January 2008, in accordance with Article 9 of the "Protocol D'Accord". Exploration Permits are granted for 5 years and require the drilling of a mandatory well. Two further licence extension periods of 4 years each are obtainable, each requiring a well to be drilled. Plectrum Petroleum Plc is an AIM listed exploration and production company. Plectrum's strategy is to seek out offshore exploration activities around the globe that can be significantly de-risked before drilling by the application of innovative technologies such as controlled source electromagnetic (CSEM) imaging. Plectrum has offshore exploration interests in Tunisia, Peru, the UK and Western Australia. This information is provided by RNS The company news service from the London Stock Exchange END MSCKGGZNVFGGNZM
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