Vegas Oil & Gas (Vegas) is offering a farm-in opportunity for a technical partner in its East Lagia block in the Sinai. Up to 35% interest will be available for the potential partner. The pro-rata funding costs of the operations undertaken by Vegas were budgeted at USD 4.3 million.  Vegas plans to acquire 550 km of 2D seismic data over the block in November 2018. The company is waiting for the mining clearance of the selected areas in the block. This seismic programme budgeted at USD 3.9 million is in addition to the contractual work obligations and it is necessary to meet the mandatory 25% relinquishment under the PSA at the end of the exploration period. A Surface Geochemical Survey budgeted at USD 0.4 million is also planned during exploration operations.   Vegas operates the block with a 100% interest.  Â The block is located east of the Petrosinaiâs development lease that includes the Lagia field.  For contact:  Either Vegas Oil & Gas   Loukas Tripelopoulos   Deputy CEO  Phone number: +30 210 809 30 96   Email: info@Vegasoil.com  Or Zebra Data  Liam Whitehead  Account Manager  Phone Number: +44 173 222 0058  Email: liam.w@zebradata.com  Background Information  In early November 2012, Vegas Oil and Gas was awarded East Lagia (Block 11) exploration block in the 2011 EGPC bid round.Â   The exploration phase of seven years includes three phases:  First period of 2 years with a commitment to conduct an air gravity/magnetic survey.  Second phase of three years with commitment to run a 500 km 2D survey   Third period of 2 years with a commitment to drill one exploration well.
Egypt, Lagia (Dev)