25 Jun 2010 14:30
Afren plc (AFR LN)
Afren plc announces completion of the Ebok Deep exploration well
offshore Nigeria
London, 25 June 2010 - Afren plc ("Afren"), announces that the Ebok Deep exploration well, offshore south east Nigeria, has encountered oil shows in good quality sands.
The Ebok Deep exploration well, located on OML 67 offshore south east Nigeria, has been drilled to a total depth of 11,375 ft (10,085 ft true vertical depth). Results of drilling and wireline logs have shown that the well intersected two sandstone intervals of 370 ft combined gross thickness in the targeted Biafra and Isongo formations, with oil shows providing good indications of oil migration pointing to potential for oil trapped up-dip from the current well location. The well has been temporarily abandoned and will be available to use for further drilling in the area.
The well has demonstrated a working hydrocarbon system in the deeper Biafra and Isongo formations, and that excellent quality reservoir sands are present. The results will be followed up with further detailed technical work, and will be incorporated into the subsurface model to assist in future exploration of the significant potential that exists in the deeper horizons at Ebok, Okwok and OML 115 which are contiguous with each other.
Afren has a comprehensive drilling programme planned for the remainder of 2010 that will target a combination of development, infill, appraisal and high impact exploration targets. The next appraisal and high impact exploration wells to be drilled will be at Okwok and OML 115 respectively, which will be drilled in H2 2010.
Osman Shahenshah, Chief Executive of Afren, commented:
"The Ebok Deep exploration well was the first to target the deeper Isongo and Biafra formations in the Ebok/Okwok/OML 115 area. We are pleased that the well results demonstrate a working hydrocarbon system and good quality sands at these depths with encouraging signs that significant potential for trapped oil exists up-dip in OML 115."
|
For further information contact: |
| |
|
|
|
|
| Afren plc |
| +44 20 7451 9700 |
| Osman Shahenshah |
|
|
| Galib Virani |
|
|
|
Pelham Bell Pottinger |
|
+44 20 7861 3232 |
| James Henderson |
|
|
| Mark Antelme
|
|
|
| Finsbury |
| +44 20 7251 3801 |
| Andrew Mitchell |
|
|
|
|
|
|
Notes to Editors
Afren is an African focused independent oil and gas exploration and production company listed on the main market of the London Stock Exchange and a constituent of the FTSE 250. Afren is currently producing from its assets offshore Nigeria and Côte d'Ivoire, with a significant appraisal and development project due onstream in 2010 from Nigeria. Afren has operated exploration interests in Ghana, Côte d'Ivoire and Nigeria, with minority exploration interests in Congo Brazzaville and the Joint Development Zone of Nigeria - São Tomé & Príncipe. For further information please refer to www.afren.com.