Oracle Energy Corp.
Oracle Energy Corp. to drill new prospect on Block 22, Yemen
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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July 20, 2006- Oracle Energy Corp. (“Oracle”) (OCL-TSX.V)(O2E-Frankfurt)
Announces that it has been notified by project operator Yemen Mayfair
Petroleum Corp. (YMPC) of plans to drill the Fatima-1 well on the Fatima
prospect, Block 22, Yemen, during the fourth quarter of 2006.
The well is planned to a total depth of 2250 metres and shall target the
intra evaporites clastics of 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
President
Contact Germany
Value Relations GmbH
Mail: oracle@ir-services.de
Tel.: 069/959246-13
(c)DGAP 21.07.2006
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Language: English
Issuer: Oracle Energy Corp.
5525 West Boulevard, Suite 440
V6M 3W6 Vancouver, BC Kanada
Phone: +1 604 980-6620
Fax: +1 604 602-9974
E-mail: info@oracleenergy.com
WWW: www.oracleenergy.com
ISIN: CA68400T1093
WKN: A0F52J
Indices:
Listed: Freiverkehr in Berlin-Bremen, Stuttgart, München; Open Market
in Frankfurt; Foreign Exchange(s) Canadian Venture Exchange
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