UK, Korean partners to explore offshore Jordan

Jordan’s cabinet has approved a co-production agreement between Korea Global Energy Corp. (KGEC) and UK independent Enegi (AIM:ENEG;OTC:EOLPF) for oil exploration in the Dead Sea and Wadi Araba areas.

Offshore staff

MANCHESTER, UK – Jordan’s cabinet has approved a co-production agreement between Korea Global Energy Corp. (KGEC) and UK independent Enegi (AIM:ENEG;OTC:EOLPF) for oil exploration in the Dead Sea and Wadi Araba areas.

KGEC will perform exploration studies over a 6,819-sq km (2,633-sq mi) area in three phases. These will include a seismic survey and drilling of three wells for oil exploration.

Enegi has a 5% carried interest in the project.

3/27/2013

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