GeoGlobal Resources Inc. (AMEX: GGR), the drilling operator of the Myra and Sara offshore licenses, has hired Scotland's Exceed Deep Water Drilling Specialists Ltd. to drill at the two licenses.
GeoGlobal president and CEO Paul Miller said, "Bringing Exceed onboard allows GeoGlobal and its partners to confidently move forward with the drilling program on our Myra and Sara licenses. Exceed's experience further enhances our team's geological and geophysical abilities and provides a solid framework to complete the design and execution of the deepwater program. Israel is a great opportunity for GeoGlobal and a major focus. Executing on a preliminary drilling program in these licenses remains a near-term priority for the company."
Two exploratory wells are planned at the Myra and Sara licenses to begin in late 20i1. An agreement is due to be signed for a rig in late April.
GeoGlobal Resources (India) Ltd., Israel Land Development Company Energy Ltd. (TASE: IE), Modiin Energy LP (TASE:MDIN.L), Israel Petroleum Company Inc. (IPC) and Ofer Investments Ltd. own the Myra and Sara licenses.
Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2011
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