Canada: Dundee Energy Unveils Port Burwell Harbour Dredging Plan

Dundee Energy Limited announced its financial results for the three and six months ended June 30, 2013.

When referring to the development plans for 2013 in its report, the Company said:

As part of its offshore program, the Corporation intends to reactivate a company-owned dock located in Port Burwell in conjunction with its planned strategy to abandon a dock and a gas plant located at Port Stanley.

This comprehensive project includes dredging of the Port Burwell harbour, and replacement of a pipeline to a larger diameter pipe, all of which will improve production efficiencies throughout central Lake Erie.

Capital costs relating to this project are approximately $0.4 million. A further $0.2 million of the 2013 offshore work program will be incurred for non-discretionary dry dock inspection costs for two vessels.

[mappress]

Press Release, July 31, 2013