By the OGJ Online Staff
HOUSTON, May 3 -- Ramco Energy PLC, London, has agreed to farm into Anschutz Bulgaria Ltd.'s A-Lovech license area in northwestern Bulgaria. The agreement remains subject to Bulgarian government approvals.
Anschutz, a subsidiary of Anschutz Overseas Corp., was awarded the A-Lovech block in April 2000, and will act as operator.
The agreement gives Ramco 20% interest and Anschutz 80% interest in the area 50 miles northeast of the Bulgarian capital, Sofia. Minimum obligations include a 2-year work program of geological work and reprocessing of existing seismic data before Apr. 11, 2002, followed by the acquisition of 100 km of seismic in 2003.
A-Lovech covers 4,744 sq km. The acreage is a thrust belt play similar to in Ramco's Carpathian Block in southern Poland. Anschutz, which specializes in the exploration of and production from thrust belts, has identified several deep structures at 4,000 m.
