Cabo expands drilling services into Albania

Source: Pioneer-Investors.com

Cabo Drilling Corp. has been awarded its first drilling contract in Albania. The contract is for a minimum 10,000 meters of core drilling on Balkan Resources Inc.’s Kokogllave Drill project in the district of Devolli, Albania.

The Kokogllave project (Koko) is located near the town of Bilisht which lies south east of Tirana, the capital of Albania. Koko is close to the border between Albania and Greece and is situated within the historic lateritic nickel/cobalt mineral region of Korça/Devolli.

“Cabo is pleased to announce the expansion of the Company’s drilling services into the Albanian market place,” stated John A. Versfelt, President and CEO of Cabo Drilling Corp.

“Together with our Albanian partner, Fatbardh Doko, we have identified a number of opportunities within the country and will use our field office in Albania as a gateway location for potential prospects in the Balkan States Region of Eastern Europe.

To this end, Cabo has formed Balkan States Drilling Ltd. a joint venture company with SHSHMN DOKO to offer exploration drilling services in Albania and the rest of the Balkan States Region.”

Short URL: http://www.albanianeconomy.com/news/?p=685

Posted by admin on Nov 17 2008. Filed under Business, Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry