Canadian firm gets Mediterranean acreage block off Libya, Tunisia

09/15/2008
Joint Oil of Libya and Tunisia has awarded the 7th of November block in the southern Mediterranean to Canadian Superior Energy Inc., Calgary.The work commitment in the first 4 years of the 7-year exploration period calls for drilling three exploration wells and one appraisal well and shooting 300 sq miles of 3D seismic on the 750,000-acre block.Accompanying the exploration and production-sharing agreement is a swap agreement that awards Joint Oil an overriding royalty interest and optional participating interest in Canadian Superior’s Mariner Block in the Atlantic off Nova Scotia, Joint Oil’s first participation outside North Africa.Joint Oil is owned equally by the Tunisian g...
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