GeoGlobal prepares for Israeli deepwater well

Offshore staff

CALGARY, Canada – GeoGlobal Resources has issued a brief review of its exploration activities offshore Israel.

Over the remainder of this year, management expects to complete processing and interpretation of 43 sq km (16.6 sq mi) of 3D seismic data in the Samuel license and to complete processing and interpretation of 1,360 sq km (525 sq mi) of 3D data covering the Sara and Myra licenses.

By year-end or early in 2012, the company should spud its first deepwater exploration well. The contracted rig, Noble Homer Ferrington, will be available on or after Dec. 1.

This is a fourth generation Enhanced Pacesetter design semi equipped to drill in water depths up to 2,100 m (7,000 ft).

11/29/2011



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