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  • WHL Energy To Provide ‘Material' Update On Seychelles Oil And Gas Project 0 comments
    Mar 21, 2013 8:24 PM

    WHL Energy (ASX: WHN) has been granted a trading halt from the ASX today as it prepares to release a material update on its flagship oil and gas project in the Seychelles.

    The company is seeking potential farm in partners for its offshore Seychelles acreage and most recently ratified the amended Petroleum Agreement with PetroSeychelles and the Seychelles Government.

    This has reduced the number of wells it is required to drill to one from the original two wells.

    Importantly, this provides WHL with greater flexibility to advance its technical work on the acreage and prepare for the introduction of industry partners and drilling.

    There is an increasing level of international interest and activity in the Seychelles, including Afren plc commencing a major 3D seismic acquisition program in its nearby Seychelles blocks.

    The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Tuesday 26 March.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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