The K42 Block - Sharing with Oilsearch
Following taken from Oilsearch's website regarding the K42 block which Shamaran holds a 20% interest in, saying that data from the seismic programme will be availible in mid-year.
"Block K42 has an excellent oil and gas address, on trend with a number of very large oil fields, and provides Oil Search with its first operated role in the country. The structure of the agreement allows Oil Search to conduct a preliminary evaluation of the acreage at a relatively low cost prior to making a decision whether to take up an option to enter into a Production Sharing Contract."
From latest quarterly report
"During the quarter, preparations were made for the 200 kilometre seismic programme over the newly-awarded K42 exploration block (Oil Search 75% paying interest). The seismic programme is scheduled to commence early in 2010. The Shakal seismic will be carried out at the same time as the K42 programme with data being available mid-year."