VOL. XLIV

No 39

24-September-2001

YEMEN

First Calgary Petroleum Signs MOU With DNO ASA For Block 43, NexenFarm-Out Dropped

First Calgary Petroleum (FCP)announced on 13 September that the farm-out agreement concluded last June (MEES, 25 June) with Canadian Nexen Yemen(formerly CanOxy Yemen) covering Block 43 has been terminated due to certainclosing conditions not being satisfied. Notwithstanding the termination of theNexen agreement, FCP will proceed with the second exploration phase in theblock,...