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Stock Market & Financial Investment News

News Breaks
November 8, 2012
16:33 EDTEGYVAALCO Energy announces N'Gongui 2 well is being drilled in Mutamba Iroru
VAALCO Energy announced that the N'Gongui 2 exploration well being drilled onshore Gabon in the Mutamba Iroru concession has encountered hydrocarbons in the objective Gamba sandstone section. Company commented: "With our partner, Total Gabon, we have elected to drill this well as a "tight hole" and therefore specifics of the operation will not be released until a later date. Suffice to say that VAALCO is excited about the results as the reservoir encountered is the same oil bearing sandstone that produces so prolifically from our offshore fields in Gabon. We are presently conducting additional operations to ascertain the size of the reservoir, reserves and plan of development." The discovery is located approximately six miles south of the producing Atora field operated by Total Gabon, and future development plans will investigate connecting into the field's export pipeline.
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August 29, 2014
12:19 EDTEGYVAALCO Energy provides update on offshore Gabon operations
Production from the Etame Marin block has resumed after the successful completion of previously announced maintenance work on the company's leased Floating, Production, Storage and Offloading vessel. Work was performed to upgrade the fire and gas detection systems on the FPSO and other routine maintenance work was completed on-time and without any safety or environmental issues. To facilitate this work, production from the block was shut-in beginning on August 23 and restarted on August 29. Production is expected to increase to pre-shut-in production rates over the next few days as well operations are stabilized. The platform jackets for both of the two new production platforms for the additional development of the Etame Marin block are now in place with this week's setting of the second platform jacket adjacent to the Southeast Etame and North Tchibala fields. Leg piles for the Southeast Etame/North Tchibala platform are currently being installed to secure the jacket to the seabed. The two new production platforms are each located in approximately 80 meters of water. The deck sections of both platforms are currently being towed to Gabon with arrival expected in early September. The deck sections are currently located off the coast of Brazil, approximately 2,000 nautical miles west of their final destination in the offshore waters of Gabon. The deck sections are expected to be mated with the jacket sections later in September and the drilling of the first development well from the new Etame field platform is scheduled to commence in mid-October, subject to platform readiness and the arrival of the contracted Transocean "Constellation II" jack-up rig.
August 18, 2014
07:54 EDTEGYEnerCom to hold a conference
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