Maurel & Prom announces results of Kama-1 well in Gabon

first_imgThe well encountered several series of oil shows between 1,865 and 2,701 metres (total depth of the well) in the Kissenda formation Maurel & Prom announces the completion of drilling operations on the Kama-1 exploration well on the Kari licence in south Gabon. (Credit: C Morrison/Pixabay) Maurel & Prom (Euronext Paris: MAU, ISIN FR0000051070, “M&P”) announces the completion of drilling operations on the Kama-1 exploration well on the Kari licence in south Gabon.The well encountered several series of oil shows between 1,865 and 2,701 metres (total depth of the well) in the Kissenda formation, main objective of the drilling, and a sample of 35° API oil has been collected.However the mediocre quality of the reservoirs did not justify a commercial test.The drilling nevertheless confirms the presence of an active petroleum system in the region. It also provided additional data which will be helpful for the continuation of exploration activities in the area, and in particular for the definition of the second well. Source: Company Press Releaselast_img read more

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The Department of Labor’s Overtime Rule 2.0

first_img continue reading » US Department of Labor Normally, employment law and activity by the Department of Labor is not something your NAFCU Regulatory Compliance Team spends much time writing about. Credit union and consumer financial regulation is more our jam. Because the 2016 amendments to the Fiduciary Duty Rule and the Overtime Rule had significance for credit unions, these specific issues did fall on our radar. And because both rule amendments were embattled and zombified after being issued, they never really fell off our radar.Like phoenix from the ashes, the Department of Labor’s Overtime Rule is back. It is not yet clear whether this version will fare better in court than its predecessor.In 2016, the Department of Labor under the Obama administration issued a final Overtime Rule, with an effective date of December 1st of that year. Multiple lawsuits seeking to overturn the rule were filed and consolidated into a case in the U.S. District Court for the Eastern District of Texas. A preliminary injunction against the rule was issued by the Texas court in November 2016, preventing it from going into effect. On December 1, 2016, the Department of Labor appealed that injunction to the Fifth Circuit Court of Appeals.center_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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