21 August 2008
Valiant Petroleum Plc (AIM:VPP): Prospero Commencement of Drilling Operations
Valiant Petroleum plc ('Valiant or 'the Company') is pleased to announce the arrival of the Byford Dolphin semisubmersible rig on location to commence drilling operations on the Prospero prospect in UK North Sea blocks 211/18c and 211/17. Valiant, which has a 50% interest in the block, will operate the exploration well on behalf of its field partner, Petrofac Energy Developments Limited.
Drilling is forecast to take around 25 days to reach its target.
Peter Buchanan, Valiant Petroleum's Chief Executive Officer, commented:
'We look forward to drilling our second operated exploration well of our 2008 campaign in line with our program set out at the time of listing on AIM in March 2008.'
In accordance with the AIM Rules, the information in this announcement has been reviewed and signed off by Brian Elliot, Operations Director, who has over 20 years relevant experience within the sector.
Ends.
For further information, please contact:
Valiant Petroleum plc
www.valiant-petroleum.com
Peter Buchanan, Chief Executive Officer
+44 (0)1483 755 666
Steve Edgley, Finance Director
+44 (0)1483 755 666
Nick Ingrassia, Investor Relations
+44 (0)1483 755 666
Oriel Securities Limited (NOMAD, Broker)
www.orielsecurities.com
Natalie Fortescue
+44 (0) 20 7710 7600
Luke Webster
+44 (0) 20 7710 7600
Tristone Capital Limited (Broker)
www.tristonecapital.com
Majid Shafiq
+44 (0) 20 7355 5800
Aquila Financial Limited (PR)
www.aquila-financial.com
Peter Reilly
+44 (0) 118 979 4100
Download press release
[PDF, 104KB]
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