MOG: Hagar Qim 1 well spud imminent

Noble Paul Romano semi-submersible drilling rig is sailing toward its drilling location, offshore Malta.

Mediterranean Oil & Gas Plc has been informed by Phoenicia Energy Company Ltd, a wholly owned subsidiary of Genel Energy plc (the “Operator”), that the Noble Paul Romano rig, which will be used to drill the Hagar Qim 1 well in Block 7 of Area 4 to the south of Malta, was accepted under contract on 18 May 2014 in Malta. The rig is sailing today to the Hagar Qim 1 well location.

Bill Higgs, Chief Executive of Mediterranean Oil & Gas, said: “We are very excited about Hagar Qim and look forward to the imminent spud of this high-impact frontier exploration well. We will update shareholders once the results are known.”

The Paul Romano rig has a rated water depth of up to 1,800 metres and is capable of drilling to a depth of approximately 7,500 metres.