VOL. XXXVIII

NO. 35

29-MAY-1995

Egypt

Phoenix Group Makes Substantial Oil Discovery In Qarun Permit

Phoenix Resource Companies, along with partners Apache Corporation and GlobalNatural Resources, announced on 22 May that they have made a substantial oildiscovery in the Qarun concession area southwest of Cairo. The discovery well,El Sagha #3, tested at a cumulative rate of 11,957 b/d. It was drilled toconfirm the presence of hydrocarbons initially discovered in the area in late1994 by El Sagha #1...