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Transeuro Energy Corp.: Ubuntu-1 Gas Condensate Discovery in PNG
Feb. 08, 2011 10:42AM PST
Oil and Gas InvestingTranseuro Energy Corp. (CVE:TSU) announces the news released by Eaglewood Energy Inc regarding the Ubuntu-1 well in PPL-259 in Papua New Guinea.
Transeuro Energy Corp. (TSXV:TSU) announces the news released by Eaglewood Energy Inc regarding the Ubuntu-1 well in PPL-259 in Papua New Guinea.
The press release is quoted as saying:
Transeuro has a back-in option to acquire 10% of all four Petroleum Prospecting Licenses held by Eaglewood in PNG after three wells have been drilled on the licenses by paying 10% of the exploration costs. The Ubuntu-1 well is the second of the three wells.
Click here to access the entire press release
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