VOL. XL

No. 47

24-November-1997

EGYPT

Scimitar And Proprietary To Develop GPC's Issaran Field

Scimitar Hydrocarbons Corporation, a wholly owned subsidiary of Canada's ScimitarProduction International Ltd., has signed a heads of agreement with Egypt's state-ownedGeneral Petroleum Company (GPC) to develop the latter's Issaran heavy oil field.Proprietary Energy Industries Inc., also of Canada, has a right to farm in for 10% ofScimitar's interest, a right it intends to exercise. The field is...