The drilling pipes in Givot's Meged 6 oil well, near Rosh Ha'Ayin, jammed at a depth of 3,860 meters.
Givot Olam Oil Exploration LP (TASE:GIVO.L) today reported that the drilling pipes in its Meged 6 oil well, near Rosh Ha'Ayin, jammed at a depth of 3,860 meters in the 4,498-meter borehole drilled to date, and that the drilling has been halted.
"It is not possible to continue the drilling at this time. The reasons for the incident are not yet known. It is not yet possible to determine the effect of the incident on the continuation of the drilling or its budget," said Givot.
"The general partner wishes to clarify that it intends to continue the attempt to release the drill pipes. If these measures fail, the general partner, in consultation with its advisers, will decide on subsequent measures for continuing the drilling, and will announce them.
Published by Globes [online], Israel business news - www.globes-online.com - on December 2, 2013
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