EXPLORATION

Fuchsia-1 fails to blossom

SHARES in Cooper Energy have taken a hit this morning, falling around 9% after the company announced the preliminary evaluations indicate the Fuchsia-1 well in the Gulf of Hammamet, Tunisia, may be uneconomic.

Marija Stojkovic

Fuchsia-1 well was drilled to a depth of 2959m, and well-site hydrocarbons shows and logging indicate the well discovered a 16m gas column in the Birsa Sandstone. The company said the logs indicate...

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