Oil ex­plo­ration to start, BOC tar­get raised

Financial Mirror (Cyprus) - - FRONT PAGE -

The gov­ern­ment has hired a Nor­we­gian sur­vey com­pany for ini­tial off­shore sur­veys for oil and gas, while Bank of Cyprus saw its share price tar­get raised by Deutsche to CYP 5.40, ac­cord­ing to the is­sue 670, on May 10, 2006.

Petroleum Geo-Ser­vices will con­duct 2D and 3D seis­mic sur­veys in an area of 60,000 sq.km. be­tween Cyprus and Egypt to as­cer­tain if there are hy­dro­car­bon de­posits. The re­sults will be avail­able from the sec­ond quar­ter and ahead of an



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