Update to drilling report
19 Septiembre 2003 - 2:21AM
UK Regulatory
RNS Number:9485P
Fusion Oil & Gas PLC
19 September 2003
Fusion Oil & Gas plc
("Fusion" or "the Company")
Update to Drilling Report - Chinguetti-4-5 Appraisal/Early Development Well
Woodside Mauritania Pty Ltd as Operator of the Mauritania PSC B Joint Venture
has today reported to the Australian Stock Exchange preliminary drilling results
as follows:
"At 00:00 hours on 19 September 2003 wireline logs were being acquired in the
Chinguetti-4-5 combined appraisal and early development well.
A preliminary evaluation of the wireline log data indicates that the well has
intersected a gross hydrocarbon interval of approximately 100 metres of which
approximately 38 metres are net oil-bearing sandstones.
All reported times are UTC (also known as GMT)."
This information supersedes the information reported yesterday by Roc Oil
Company Limited.
The Joint Venture is comprised of:
Participant Equity
Woodside Mauritania Pty Ltd (Operator) 35.0%
AGIP Mauritania BV 35.0%
Hardman Resources Ltd 21.6%
Fusion Mauritania B Limited 6.0%
Roc Oil (Mauritania) Company 2.4%
As previously announced on 28 May 2003, the Company has entered into an
agreement with Premier Oil plc regarding the disposal of its interests in
Mauritania. Subject to fulfilment of certain conditions, Fusion will receive
cash payments linked to all future production from PSC A and PSC B.
September 19th 2003
Enquiries
Fusion Oil & Gas plc
Alan Stein, Managing Director Tel: +61 8 9226 3011
Fax: +61 8 9226 3022
Email: astein@fusionoil.com.au
Peter Dolan, Chairman Tel: 020 8891 3252
Fax: 020 8891 1555
Email: pdolan@fusionoil.co.uk
College Hill Associates Tel: 020 7457 2020
Fax: 020 7248 3295
James Henderson Email: james.henderson@collegehill.com
Phil Wilson-Brown Email: phil.wilson-brown@collegehill.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLDKLBFXKBFBBD