Oracle Energy Corp.
Oracle Energy Corp.: Fatima Prospect, Block 22, Yemen to be drilled Mid-October
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The issuer is solely responsible for the content of this announcement.
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Sept 21, 2006- Oracle Energy Corp. (“Oracle”) (OCL-TSX.V)(O2E-Frankfurt)
Announces that it has been notified by project operator Yemen Mayfair
Petroleum Corp. (YMPC) that preparations are actively underway to drill the
Fatima-1 well on the Fatima prospect, Block 22, Yemen. The drilling rig is
being mobilized and drilling is scheduled to commence mid-October 2006.
The well is planned to a total depth of 2250 metres and shall target the
Middle Miocene that tested hydrocarbons in the Jaizan wells to the north,
across the border in Saudi Arabia.
Oracle Energy Corp. holds a 15% participating interest in block 22, which
encompasses 8,151 square km within the Tihama Basin in the western region
of the Republic of Yemen. YMPC and its partners have invested in excess of
U.S. $20 million on exploration programs to date. Principals of YMPC were
instrumental in the discovery of Yemen’s first giant oil field in the
mid-1980’s, located in the Marib basin. Block 22, was awarded to YMPC in
1993.
ON BEHALF OF THE BOARD
“Nasim Tyab”
Nasim Tyab
President
Kontakt Deutschland
Value Relations GmbH
Mail: oracle@ir-services.de
Tel.: 069/959246-13
(c)DGAP 21.09.2006
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