White Nile says fully operational in Southern Sudan
Mar 29, 2006 (LONDON) — Oil and exploration company, White Nile Ltd said it has started the 2,000 km seismic programme and is now fully operational in Southern Sudan.
“We continue to develop our interests in the region and look forward to an exciting year in 2006,” chairman Phil Edmonds said in a statement.
The company said it can now speed up the seismic operations and the well targeting process at the Block Ba in Southern Sudan.
In Ethiopia, the first half of the initial geophysical programme of magneto-telluric and gravity surveys in the ‘Southern Rift Basins’ has been completed.
It said preliminary interpretation of data already gathered is now underway, which once completed should enable it to understand the future prospectively of the region.
On the competing claim on Block Ba from Total SA, the company said it believes it has security of tenure and has been working closely with its partners, the Government of Southern Sudan, Nile Petroleum Corp Ltd, local government and the people of Southern Sudan to progress the project.
In the six months to December, its pretax loss came in at 515,434 stg. There were no sales as “we are currently an exploration company and are not yet in a position to generate revenue.”
(AFX)