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Market: AIM
Sector: Equity Instruments
Epic: UKX
News: Latest news
Web Site: Fox-Davies Capital
Other Articles: 10-03-201009-03-201008-03-2010

Fox-Davies Capital

Fox-Davies Capital specialises in international resource companies and has a substantial background in emerging markets. FDC is dedicated to providing in depth sector, commodity, regional and company specific reports, driven by the aim of being specialist providers of high quality analysis on natural resource companies worldwide. Find out more at www.fox-davies.com
Thursday, January 08, 2009

Fox-Davies Capital Thursday Energy and Mining News Wrap

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Tullow Oil   (TLW)  has announced that the Mahogany-3 well located in the West Cape Three Points licence offshore Ghana has intersected significant light oil columns in both the Jubilee field appraisal objective and also a deeper exploration target. Results of drilling, wireline logs and samples of reservoir fluid indicate that 16 metres of high quality stacked oil bearing sandstones have been encountered. The secondary objective of the well was to drill Mahogany Deep well, which encountered 17 metres of good quality oil bearing reservoir sandstones at levels significantly deeper than the oil water contacts previously intersected on the Jubilee field. The rig will move to the Tweneboa-1 exploration well location in the Deepwater Tano block. And drilling activities are expected to commence before the end of January.

Chaarat Gold   (CGH)  announced additional encouraging drilling results from the C4600 and C4000 Project Areas on the Contact Zone at its 100% held, 604 square kilometres, Chaarat gold property in the Kyrgyz Republic. Highlights included 3.27m at 16.01g/t, 17.97m at 6.21g/t and 4.42m at 4.4g/t. It is expected that these drilling results along with the other drilling results already published during 2008 will add significantly to the current resource of 3.14 million ounces as well as improve the average grade of the resource.
 

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