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Area Drilling

07/21/2008
MadagascarNiko Resources Ltd., Calgary, will take a farmout from private EnerMad Corp. and become operator of the Grand Prix production sharing contract area in the Morondava basin off west-central Madagascar.Niko is to earn a 75% interest by funding 3,000 sq km of 3D seismic in early 2009 and drilling as many as two exploration wells on the 16,845 sq km block shallow to 1,500 m of water in the Mozambique Channel.Niko said the block has multiple play types in rocks of Triassic, Jurassic, Cretaceous, and Tertiary age. The companies are reprocessing 7,600 line-km of 2D seismic. The deal is subject to OMNIS approval and the signing of definitive agreements.AlbertaAdvantage Energy Income Fund...
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