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HDR - ENI Malta Well Dry

  1. xmagx

    2,036 Posts.
    Apart from tax selling or whatever the bloody hell is going on with recent dumping of all stocks on the ASX lately, this could be adding to recent woes!

    Malta exploration fails again to find oil/gas

    VALLETTA, June 24 (Reuters) - The Malta government said on Monday drilling of an exploratory oil well in the sea north west of Malta had been abandoned at a depth of 4,115 metres.

    The drilling was being carried out by the semi-submersible rig Actinia for Eni SpA of Italy.

    "The well encountered minor shows of gas which were not considered commercially viable for exploitation" a Malta government statement said.

    The drilling was started in April at a site close to the southern flank of Italy's Ragusa basin where oil production has been ongoing since the mid-1950s.

    This was Malta's 11 exploratory oil well since 1954 but despite the discovery of oil by Italy in the North and Libya in the south, all Malta's wells were dry.

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