VOL. XXXIX

No. 9

27-November-1995

SUDAN

Arakis Confirms Sudan Oil Discovery; Follows Up On Financing Arrangements

The Vancouver-based Arakis Energy Corporation has issued a press release confirming that it has completed testing Heglig well No. 9a-5-687 in its Sudan concession (for location, see MEES, 7 August) and that it has arranged an interim financing package for its development plans while continuing negotiations for a $345mn credit facility through a "Far Eastern Bank" and for the...