OTCPK:TLSMF - Post by User
Post by
fireintheholeon Mar 10, 2008 10:55am
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Another Talisman partner strikes oil....
Another Talisman partner strikes oil....Inpex finds oil from Timor Sea offshore test well
10 Mar 2008 04:47 ET
TOKYO, March 10 (Reuters) - INPEX Holdings Inc <1605.T> said on Monday its subsidiary had confirmed crude oil reserves from a test well in the Timor Sea.
The exploration well Kitan-1, located in the permit JPDA 06-105 some 500 km off the Australian coast, had crude flowing at a rate of about 6,100 barrels per day, company statements showed.
An Inpex subsidiary has a 35 percent stake in the permit. Italy's Eni , which has a 40 percent stake, serves as the operator of the project, while Canada's Talisman Energy has the remaining 25 percent stake.
Inpex said the group would consider commercial production from the project. (Reporting by Osamu Tsukimori, editing by Jacqueline Wong