ERHC Energy Inc (ERHE)

[kuxe0]

omelette ( ADVFN): Block 4 the most prolific (?)


I cut & pasted from ADVFN EEL board. Thanks to "omellete":
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omellete - 16 Jun'07 - 12:50 - 21835 of 21839

Sao Tome-Nigeria JDZ projects target 2013

Addax Petroleum and its partners in three blocks in the Nigeria-Sao Tome Joint Development Zone, could potentially bring on stream a project in the area by 2013.

Addax's head of exploration Jeff Schrull said the company's key partners in blocks 2, 3 and 4, Anadarko and Sinopec, plan to drill the most likely exploration prospects that would generate a fast-track development, probably based on a cluster of finds tied back via subsea wells to a central host platform.

Anadarko operates Block 3, while Sinopec operates Block 2 and operates Block 4 jointly with Addax.

Sinopec and Addax have fixed the drillship Aban Abraham for up to 10 wells, with Schrull suggesting that they could take delivery of the vessel in August 2008.

He expected Sao Tome's involvement in the joint development zone would improve cycle times compared to a pure Nigerian development.

At least 16 prospects have been identified over the threeblocks. Three have been mapped in Block 2 Principe, Tome and IO while Block 3 holds a foursome, including Lemba, cantagalo and Aspasia North West.

Block 4 is the most prolific, holding about nine structures including Aspasia, Aspasia South, Lydisia, Liparis, Liparis East, Orchidea, Spiranthe, Calanthe and Stelis.

Net to Addax's interest, the unrisked oil potential in this play is about 225 million barrels.

Schrull said that if any gas was discovered it could potentially be exported to the Bonny liquefied natural gas plant in the Niger Delta via Total's Akpo facilities, which lie just 10 kilometres north of Chevron's Obo-1 wildcat in the joint development zone's Block 1.

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PS: I count 16 "structures" mentioned.

In case of double posting I excuse myself. Actually I can not remember to have read already such a detailed comment.