AXT (ARGO EXPLORATION LIMITED) 2009-12-29:
Argo Exploration announced that it has acquired a 6.86% strategic stake in AIM listed oil and gas exploration and production company, Pantheon Resources. The investment comprises 7m shares at GBP 0.1325 per share for a total of GBP 927,500 (A$1.7m). Highlights of the investment include: proven oil and gas development project; two target reservoirs - primary target in Austin Chalk and secondary target in underlying Woodbine Sandstone; up to 50 well development; and average Gross reserve per Austin Chalk JV well estimated at 8 Bcfe. The first well in the program is estimated to spud in late January 2010.
Thursday, December 31, 2009
Resource stock updates
ASX resource company drilling updates - more on http://www.sharefilter.com
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