Malta: Area 4 PSC blocks extended 18 months

By OGJ editors
– The government of Malta has extended the exploration phase for all four blocks in Area 4 by 18 months to Jan. 18, 2013, said Mediterranean Oil & Gas PLC.

The additional 18 months will allow the company to progress analysis of the acreage. The company is in advanced discussions with a third party to farm out a 75% interest in Area 4 and hopes the seismic survey will identify further prospects in the area and make drilling an exploratory well attractive.

Meanwhile, in Italy the Guendalina development is progressing well, the most critical phase having been completed successfully and on schedule.

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