Drilling Rig Expected to Return to the Mubarek Field in Early November. Sky Petroleum, Inc., an oil and gas company with a development project in the United Arab Emirates, is pleased to provide an update on the drilling plans for the second well at the Mubarek Field.
Sky Petroleum and Crescent Petroleum Company International Limited (“Crescent”), the operator of the Mubarek Field, announces that the Rani Woro jackup rig, currently drilling for another operator, is expected to return to the field around November 1, 2006. This date is approximately 45 days later than originally anticipated due to operational delays with the current operator. Earlier this year, Crescent signed a contract with P.T. Apexindo Pratama Duta Tbk, the largest Indonesian oil and gas drilling company, to drill the two obligation wells using the Rani Woro jackup rig. The Rani Woro can operate to a water depth of 350 feet and has a 25,000 foot drilling capacity.