Artumas has been advised by Anadarko, the operator of the Rovuma
Onshore Concession, that the Mecupa 1 commitment well encountered
hydrocarbon shows. However, while the well encountered excellent
reservoir sands and indications of hydrocarbons at various intervals,
it is now being plugged-back and abandoned
Further evaluation of the well results is ongoing.
Artumas Group has also been informed by Anadarko that the Belford
Dolphin drillship has left port in Mozambique and is preparing to
commence the drilling of a four well program in the next few days.
The initial plan is to set surface casing for the Collier well and
then move to and drill the Windjammer well before returning to
Cameron Barton, President and CEO of Artumas stated that, "the
information seen from the Onshore drilling is positive and will add
considerably to our growing knowledge of the basin." He also
reminded shareholders that the sale transaction announced earlier
this year has allowed Artumas' remaining interests in the drilling
activities currently being conducted in Mozambique to be fully
financed by Cove Energy and Maurel et Prom.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)