Sherritt relinquishes offshore Cuba blocks
Aug 11, 2008 02:00 AM
Toronto-based Sherritt International has relinquished four blocks offshore northwest Cuba in the Gulf of Mexico
because it could not attract a partner to share the development costs and risks, the company said.
"Given the seismic we shot, we don't feel that spending C$ 150 mm [$ 146 mm] on a well was warranted," Sherritt CEO
Jowdat Waheed was quoted as saying.
