Oracle Energy Reprocessing Seismic Data from Block 22 in Yemen
Oracle Energy reports that reprocessing of seismic data over a prospect of interest in Block 22 in Yemen is currently underway. Once this is completed and results interpreted, further exploration plans for Block 22 will be formulated.
Oracle Energy holds a 15% participating interest in Block 22, which encompasses 8,151 square km within the Tihama Basin in the western region of the Republic of Yemen. Yemen Mayfair Petroleum Corp (YMPC) is the operator of the block. YMPC and its partners have invested in excess of U.S. $20 million on exploration programs to date. Principals of YMPC were instrumental in the discovery of Yemen's first giant oil field in the mid-1980's, located in the Marib basin. Block 22, was awarded to YMPC in 1993.
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