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The operator of the high-profile Buffalo-10 oil appraisal effectively offshore Timor-Leste has referred to as a buying and selling halt in its shares pending information on the effectively outcomes.
Carnarvon Petroleum mentioned Wednesday it requested an instantaneous buying and selling halt, “pending the discharge of an announcement in relation to the Buffalo-10 effectively end result”.
The buying and selling halt will finish on the sooner of the beginning of regular buying and selling on 21 January 2022 or when the effectively outcomes announcement is launched.
The Buffalo-10 effectively started drilling on 31 December 2021 utilizing the jack-up Valaris 107.
Success might spur a redevelopment of the buffalo subject which was shut in, some would argue prematurely, in 2004.
The sector sits in Timor-Leste’s unique waters, and is owned by Carnarvon and 50:50 companion Advance Vitality.
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