Cutting Interests: Esso Offers Entire Phyllis/Barbara Equity

IndigoPool reports that Esso Exploration and Production UK Ltd. is looking to sell its equity in Blocks 23/16b Upper and 23/16b Upper (Barbara extension). Esso currently holds 66.7% working interest in Block 23.16b Upper and 40% in the Barbara extension.

Containing the Phyllis and Barbara Fields, both of the gas/condensate fields hold gas-in-place estimates ranging from 221 to 403 billion cubic feet in water depths of 260 feet.

Beginning March 10, 2008, interested parties may contact Esso directly to acquire a confidentiality agreement for access to its online data room. The data room will close May 16, 2008. All offers must be made by 12 noon (GMT) that day.

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