The Dafora drilling rig is being transported to the Karl-101 location, and currently 85% of components are on site, with approximately 25% rigged up.
The company also said that it is involved in the acquisition of petroleum and natural gas rights, and the exploration for and development and production of crude oil, condensate and natural gas.
The company’s properties are located in Canada, Armenia and Ukraine, and in addition, it owns shares in Eaglewood and holds a back-in option to its exploration licenses in Papua New Guinea.
