In the net: for Cooper
Cooper scores Bargou goal
Cooper Energy's Bargou permit, off Tunisia, has been converted into an exploration licence, the company said today.
The conversion will take effect following a signing ceremony and publication in the Tunisian Government Official Gazette, which is normal process.
The initial exploration term at Bargou will run for five years and includes a work commitment of 200 square kilometres of 3D seismic and one exploration well. The licence is renewable for two periods of three years.
Bargou covers 4412 square kilometres in the Gulf of Hammamet, off Tunisia.
The licence conversion follows the successful acquisition of 972.7 kilometres of 2D marine seismic last year and the subsequent identification of several attractive exploration prospects.
The forward work programme for the licence is expected to include finding a suitable joint venture partner and shooting more seismic to mature the prospects to "drill ready" status. Cooper, which has 100% of the licence, said it plans to drill a well next year.