19 July 2007drilling progress report● Neutral
Mogul said the operator, Dover Investments Ltd., told it that drilling has started (spudded) on the EWA 4X well at the East Wadi Araba Concession in the Gulf of Suez, Egypt, where Mogul holds a 20 percent working interest. The well is deviated, drilled from an onshore location to test an offshore structure for light oil in the Raha and Nubia formations; no results are given, and Mogul says it will provide updates as drilling progresses.