Fusion's first day of dealing is expected to be on 28 September. Fusion has adopted a dual strategy of frontier deepwater exploration and shallow water shelf or onshore exploration in proven petroleum provinces. Fusion expects to participate in its first exploration drilling in the first half of 2001 offshore Mauritania where one or possibly two or three deepwater wells will be drilled. Woodside and British Borneo will free carry Fusion through the drilling and testing of the first two wells. The purpose of the placing is to fund a programme of seismic acquisition, exploration drilling and the expansion of Fusion's licence portfolio.
Fusion anticipates participating in five or more wells over the next three years.
Fusion is focussed on exploration and will introduce partners when significant capital is required. Dr Alan Stein, Managing Director Dr Peter Dolan, Chairman College Hill Associates . Once you have entered your keyword press the IntraSearch button.