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MediterraneanOil&Gas (MOG)

MediterraneanOil&Gas

Malta Offshore Area 4 Operations Update
RNS Number : 0491Y
Mediterranean Oil & Gas Plc
18 February 2013
 



18th February 2013

 

Mediterranean Oil & Gas Plc

("the Company", or "MOG")

Malta Offshore Area 4

Operations Update

 

Mediterranean Oil & Gas Plc (AIM: MOG) is pleased to announce that it has signed a Service Order with AGR Well Management Limited for the provision of drilling engineering and rig procurement support for the drilling of the Hagar Qim 1 well, forecast to be spud in 4Q 2013 pending sourcing a rig for the operations.

In addition, the Company has received clearance from HM Revenue and Customs in respect of the application of the substantial shareholding exemption to the sale by the Company of 75% of its shareholding in Phoenicia Energy Company Ltd to Genel Energy plc ("Genel").  Completion of the transaction is expected at the end of this month.

 

Dr. Bill Higgs, Chief Executive of Mediterranean Oil and Gas, commented:

 

"We are continuing to prepare for the drilling of Hagar Qim 1 in late 2013 and we are pleased to be working with AGR on this important phase of the project.  AGR has a proven track record of providing drilling support services to Operators conducting exploration drilling activities.

 

The closing of the transaction with Genel will enable our team to fully dedicate its time to preparing for the drilling operations offshore Malta."

 

 

QUALIFIED PERSON

In accordance with the guidelines of the AIM Market of the London Stock Exchange, Dr Bill Higgs, Chief Executive of Mediterranean Oil & Gas Plc, a geologist, explorationist and reservoir manager with over 23 years oil and gas industry experience, is the qualified person as defined in the London Stock Exchange's Guidance Note for Mining and Oil and Gas companies, who has reviewed and approved the technical information contained in this announcement.

ENQUIRIES:

Mediterranean Oil & Gas Plc

www.medoilgas.com

Bill Higgs, Chief Executive/Chris Kelsall, Finance Director                            Tel: +44 (0)203 178 5806

Liberum Capital Limited (Nominated Adviser and Broker)

Clayton Bush/Ryan de Franck                                                                      Tel: +44 (0)20 3100 2222

FTI Consulting (Public Relations)                                                             

Billy Clegg/Alex Beagley/Georgia Mann                                                               Tel: +44 (0)207 831 3113


This information is provided by RNS
The company news service from the London Stock Exchange
 
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