The first of seven exploration wells is planned to begin during the fourth quarter of 2007. This well is anticipated to be over 4,000 meters in depth, testing a sub-thrust prospect.
For the fiscal year ending March 31, 2008, Canoro anticipates its 15% share of the budgeted expenditures to be approximately US$4 million.
Canoro is a Canadian-based international oil and gas company operating in the Assam/Arakan basin of northeast India. Canoro is the operator of Amguri field with a 60% working interest. Canoro is the operator with a 65% working interest in the AA-ON/7 exploration block. Canoro also has a 15% non-operated working interest in the AA-ONN 2003/2 exploration block.
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