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December 18, 2008
A new oil discovery in Egypt, with a well sidetracking the earlier Al Amir-1X find, has sparked hopes that the company now has a new sizeable development project on its hands that could lead to debut production before too long. Though when that is remains to be seen.
CEO David Hough pledged to bring the Egyptian oil reservoirs in the North-West Gemsa Concession onstream “in the shortest time frame” although no firm timetable has yet been set. The area is located about 300 km...
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