Cabo announces additional drilling contract in Panama

Thu. July 24, 2008; Posted: 04:24 AM

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Jul 24, 2008 (M2 EQUITYBITES via COMTEX) -- CBEEF | Quote | Chart | News | PowerRating -- Cabo Drilling Corp (TSX-V: CBE), a drilling services company, announced on Wednesday (23 July) that the company's Panama division has been awarded an additional 14,000 metres of drilling at Minera Petaquilla S.A.'s copper project in the district of Donoso, in Colon Province, Republic of Panama.

The original contract, which was announced in March 2008, was for a minimum of 6,000 metres of drilling.

The company currently has four drills on its project with Minera Petaquilla S.A., with a fifth drill being mobilised from Canada.

Cabo said, that in addition to the further 14,000 metres of drilling, the company will supply all of the labour required for site preparation and helicopter support.

Financial details were not available.

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For full details on Cooper Industries Inc (CBE) click here. Cooper Industries Inc (CBE) has Short Term PowerRatings of 7. Details on Cooper Industries Inc (CBE) Short Term PowerRatings is available at This Link.

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