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SENSAI1on Jan 15, 2008 1:09pm
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GUL to start drilling for UK oil by Jan.20
GUL to start drilling for UK oil by Jan.20GUL is presently at $0.285
Jan 15, 2008 03:01 ET
Gulf Shores Resources Ltd.: News Release
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Gulf Shores (UK) Limited, a wholly owned UK subsidiary of Gulf Shores Resources Ltd. (TSX VENTURE:GUL)(FRANKFURT:GFU) has been advised by Petro-Canada UK Limited, the Operator of the North Sea 15/18a-Maria project, that the Global SantaFe Arctic III semi-submersible rig is expected to commence drilling operations by January 20, 2008.
Gulf Shores will pay 11.11% of the cost to drill and, if required, conduct DST operations to earn an 8.33% interest in Licence P 233, Block 15/18a. The Company has identified three additional prospects/leads in the block that require new 3D seismic to mature to drill ready status.
ON BEHALF OF THE BOARD
Michael Turko, President