Enegi partners begin work on well
DRILLING has begun on a well in Canada that is partly-owned by Manchester-based Enegi Oil.
The company had an exploration licence EL1070 for an area in Western Newfoundland that covers the Shoal Point prospect which is due to expire this year.
However, in 2009 it completed an interest swap in the licence with Shoal Point Energy and Canadian Imperial Venture Inc, who exchanged a 100% in their conventional St George’s Group venture in return for the prospect of developing EL1070.
The pair have taken on all of the costs of developing EL1070 in return for a 70% interest in the venture and announced last week that they have now begun work on a well in the area.
