Petsec Formally Awarded Two Gulf of Mexico Blocks
The MMS has formally awarded Petsec Energy two blocks from the Central Gulf of Mexico Lease Sale 198 held in March. Petsec was high bidder on Vermilion 41 (4,251 acres) and Vermilion 148 (5,000 acres) leases in the Gulf of Mexico.
Petsec has a 100% working interest and an 83.33% net revenue interest in each lease and the leases have a five year exploration term.
The new Vermilion leases are located approximately 35 miles and 65 miles to the north of the Company's Vermilion 258 gas field.
- Petsec Energy Reports Higher Reserves at An Nagyah Oilfield in Yemen (Mar 15)
- Petsec Energy Acquires 100% Stake in Damis Production License (Feb 05)
- Petsec Energy Completes Acquisition of 29.75% Stake in Yemen's Block 7 (Oct 01)