VOL XL

No. 03

20-January-1997

LIBYA

Red Sea Oil Starts Drilling In Libya's Block NC177

The Vancouver-based Red Sea Oil (RSO) Corporation begandrilling its first well in Libya's onshore Block NC177 on 12 January, according to acompany statement. The well, A1-NC177, is the first of a two-well oil exploration programin the Farah East prospect and will be drilled to an approximate depth of 10,000 feet inorder to test the paleocene carbonate reservoir of the Farah Trend. Drilling is expectedto take...