Middle East Economic Survey


No 1



Sea Dragon Farms Into NW Gemsa License

Canadas Sea Dragon Energy has completed its acquisition of Premier Oil Egypts 10% interest in Egypts North West Gemsa permit, which covers 260 sq km in an explored area of the Gulf of Suez Basin, 300km southeast of Cairo. The $14.7mn purchase completes an acquisition that was originally announced in August 2009. Other partners on the concession are operator Vegas Oil and Gas (50%) and Circle Oil...