1. Most Discussed
  2. Gainers & Losers
HDR 0.0¢

HDR - ENI Malta Well Dry

  1. xmagx

    2,032 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.

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top