Area Drilling

05/14/2001
CubaCie. Maurel & Prom, Paris, will assign to Pebercan, Montreal, its 30% interest in Block 7 along Cuba's north coast, subject to approvals.Maurel & Prom will receive $10 million (US) in Pebercan preferred shares and a warrant for 2.15 million Pebercan common shares.The change will bring Pebercan's interests in Block 7 to 60% of the Canasi structure and 55% of the rest of the block. Sherritt International Corp., Toronto, operates Block 7.Gross production from Block 7 averaged 5,000 b/d in early May, and the government asked that production be accelerated, Pebercan said.KenyaThe Ministry of Energy awarded three offshore production-sharing contracts to Dana Petroleum PLC, London.Bl...
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