Junior explorers West Oil and Norwest Energy have each increased their stake in AC/P22, containing the Puffin Oil field, to 50%, after farm in partner Alberta Energy Company left the Joint Venture. West Oil will take over as operator.
West Oil told the exchange that the JV has commenced technical evaluation and is preparing to reprocess the 3D seismic data set over the Puffin Oil fields to a higher level than previously undertaken.
West Oil added that the JV will be seeking additional participants to help carry them through the cost of drilling the next well.
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