No. 34



Phillips Plans Further Drilling In Bordj Messouda Tract Despite Dry Hole

US-based Phillips Petroleum Company said it plans to drill two more wells in its Bordj Messouda concession in Algeria despite the fact that its first test well, Rhourde Midi-1, has turned out to be a dry hole. Phillips acquired the 6,000-sq. km. acreage in 1992. The wildcat was drilled to a depth of 15,900 feet, and while no commercial quantities of oil or gas were discovered,...