News Release (Sumitomo Corp.)
Nov. 19, 2008
Sumitomo Corporation
Sumitomo Corporation Awarded 2 Licenses
in the 25th Seaward Licensing Round in the United Kingdom Continental Shelf
Petro Summit Investment UK Ltd. （hereafter "PSIUK", Roy Phillips CEO）, a subsidiary of Sumitomo Corporation (Susumu Kato, president and CEO) has been awarded two new licenses in 25th Seaward Licensing Round in the United Kingdom Continental Shelf with Bow Valley Energy Ltd., Reach Exploration and Oilexco Inc.
【Overview of License Award】
|
Block |
Location |
Partner *Operator |
Share |
Area |
Depth |
|
13/23a |
Approx. 120km northeast of Aberdeen |
PSIUK Bow Valley* Reach Exploration |
45% 45% 10% |
109km² |
110m |
|
29/1c |
Approx. 190km east of Aberdeen |
PSIUK Oilexco* Reach Exploration |
40% 50% 10% |
162km² |
90m |
The new two license awards are located near producing fields. In addition, since some prospects have been identified in the new blocks, the partners have committed to drill one exploration well on each block.
<<Attached>>
【Location】
【Partner's Detail】
Bow Valley Energy Ltd.
・Headquarter: Calgary, Canada
・Stock listings: Toronto Stock Exchange
・Core area: UK North Sea and U.S. Alaska
Reach Exploration Ltd.
・Headquarter: Aberdeen, UK
・Stock listings: Unlisted
・Core area: UK North Sea
Oilexco Inc.
・Headquarter：Calgary, Canada
・Stock listings: Toronto Stock Exchange and London Stock Exchange
・Core area: UK North Sea
Related Link
・ Mineral Resources, Energy, Chemical & Electronics Business Unit
