PSE Circular for Brokers No. 003-99
PSE Circular for Brokers No. 003-99 • Philippine Stock Exchange • Circulars for Brokers • Jan 4, 1999
Full text
January 4, 1999 PSE CIRCULAR FOR BROKERS NO. 003-99 DAILY DRILLING BULLETIN December 29, 1998 DESTACADO-2 WELL (NW Palawan) Shell Philippines Exploration B.V., operator of Service Contract (SC) No. 38, spudded the Destacado 2 well on 29 December 1998. The well is located approximately 10 kilometers south of Camago-Malampaya structure at a water depth of 1,624 feet (495 meters). The well will be drilled to appraise the Destacado structure with a programmed total depth of 12,343 feet (3,762 meters) using the semi-submersible rig "Atwood Falcon." It will lost a prospect in the Nido Limestone Formation that has been interpreted to contain recoverable reserves of 2 trillion cubic feet of gas. The estimated cost of drilling the well is USD11 million if dry and USD17 million if a test will be undertaken. (SGD.) GRISELDA J.G. BAUSA Director Energy Resource Development
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.