Buzzard DTI Approval
2003年11月27日 - 9:50PM
RNSを含む英国規制内ニュース (英語)
RNS Number:5742S
Edinburgh Oil & Gas PLC
27 November 2003
News Release 27 November 2003
Buzzard Field gets DTI go-ahead and
Edinburgh agrees new Credit Facility
The U.K. Department of Trade and Industry ("DTI") has today announced its
approval to the Field Development Plan for the Buzzard oil field in the UK North
Sea. Edinburgh Oil & Gas plc ("EOG") has a 5 per cent interest in the field.
EOG also announces that it has signed Heads of Agreement with The Bank of
Scotland for a US $105 million Corporate Revolving Credit Facility. The primary
purpose of the facility is to finance the Company's share of the Buzzard oil
field development costs.
The Buzzard field contains recoverable oil reserves in excess of 400 million
barrels and is believed to be the largest discovery in the North Sea for over
ten years. First production is anticipated by the end of 2006.
The Buzzard oil field is operated by EnCana (U.K.) Limited with a 43 per cent
interest. The other co-venturers are Intrepid Energy North Sea Limited, 30 per
cent and BG Group, 22 per cent.
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For further information please contact:
Alf Bissett, Managing Director
Edinburgh Oil & Gas plc 0131 225 5454
Roland Cross, Director
Broadgate 020 7726 6111
This information is provided by RNS
The company news service from the London Stock Exchange
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