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SPC Announces Drilling Update On Exploration Well In Cambodia

Source: www.gulfoilandgas.com 7/25/2008, Location: Asia

Singapore Petroleum Company Limited announced that the Vimean Morodok MahaNorkor-1 exploration well in Cambodia Block B was plugged and abandoned at 2,930 metres with non-recoverable oil shows. SPC share of the drilling costs amount to approximately US$3.0 million (about S$4.0 million).

Commenting on the drilling results, SPC Vice-President (Exploration & Production), Mr Brian Boslaugh said, "SPC and its partners will continue to work closely to undertake technical works for further evaluation of the Block's prospects".

The Well is situated in Block B, offshore Cambodia, east of the Khmer sub-basin, and in water depth of about 75 metres. The well location is approximately 160 kilometres southwest of Sihanoukville, and about 80 kilometres east of the Thai-Cambodian Overlapping Claims Area, in the Gulf of Thailand.

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