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[RUBY1100]

JDA targets oil bounty

http://www.upstreamonline.com/hardcopy/news/article195388.ece

Thursday, 08 October, 2009, 23:01 GMT | last updated:

The Abuja-based Joint Development Authority (JDA) is optimistic after positive initial indications of the presence of hydrocarbons in three blocks currently under exploration.Results will be announced in the fourth quarter from three critical wildcats in the Joint Development Zone (JDZ) managed by Nigeria and the archipelagic Republic of Sao Tome&Principe.

First off the mark was the Addax Petroleum-operated Kina-1 well in Block 4 where the Transocean drillship Deepwater Pathfinder will finish up and mobilise within a fortnight to spud Anadarko Petroleum's Lemba-1 wildcat on JDZ Block 3.

Initial feedback from the Addax probe and from the Sinopec-operated Bomu-1 well on JDZ Block 2 indicates“optimism and excitement that the sands encountered indicate hydrocarbons”, said a JDA official.