No. 24



Pennzoil Makes New Oil Discovery In North July Concession

Pennzoil of Houston on 9 June announced an oil discovery in its North July block in theGulf of Suez, in which it has a 100% interest. The NJ-1 well, Pennzoil's first well in theblock, tested at a rate of 6,000 b/d of 34Âș API, low-sulfur oil. The 36-sq. km. NorthJuly block lies about 8 kms. offshore east of Ras Gharib town. The NJ-1 well, located in169 ft. of water, was drilled to a total depth of 10,880...