Houston-based Tekoil (OTC: TKGN) is one step closer to conducting 3D seismic exploration off Newfoundland and Labrador's west coast. The project cost is estimated at $8.0 million.
The company issued a news release on 21/22 November stating its application for the seismic program had been released by the provincial environment deaprtment from further review.
While two environmental bulletins were issued by the province this week, the provincial government website contains no news release announcing the Tekoil decision.
Tekoil is also reported to be looking at Stephenville as a possible site for a rig refurbishing facility. Two news stories - one from The Georgian and another from vocm.com in June 2006 - describe the company's interest both in exploration and in establishing the rig facility.
Tekoil's Newfoundland and Labrador operation is headed by Donna Parsons, a former petroleum engineering technologist and industrial benefits officer with the provincial natural resources department.
On the leading edge of corporate online presence, Tekoil's chief executive officer Mark Western maintains a blog.