Joint venture partner Tangiers Petroleum saidGalp had signed a novation agreement to secure access to the jack-up RalphCoffman which is expected to spud the Tao-1 wildcat during the second quarter.
Tangiers has previously stated the Tao-1well will target 758 million barrels of prospective resources.
Galp is earning a 50% stake in the TarfayaBlock through a farm-in agreement it struck with Tangiers last year which willsee it spend $41 million, including $7.5
