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AED Oil Limited (ASX:AED) Quarterly Activities Report

 

Quarterly Activities Report


Highlights:

• Appointment of John Imle as new CEO

• Testing from both zones at Lempuyang-1 produced gas to surface

• New 3D seismic planned over Jerudong oil field

• Insurance claim lodged in respect of well control at Lempuyang-1 well for potential re-drill (approx $18m)

• Rombebai Production Sharing Contract extended to July 2013

• South Madura additional deep targets identified: potential for farm-out to realise value

• Funding initiatives put in place with Share Purchase Plan launched and finalisation of US$20M convertible note facility

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