Africa Oil Corp

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LEO.V news

Lion Energy's Bogal 1-1 reaches 5,085 m total depth


2010-05-12 11:12 ET - News Release

Mr. John Nelson reports

LION ENERGY PROVIDES BOGAL 1-1 WELL UPDATE

Drilling of Lion Energy Corp.'s Kenya block 9 Bogal 1-1 well reached a total depth of 5,085 metres. Gas shows and petrophysical analysis of wireline logs indicate multiple gas pay zones totalling approximately 91 metres in Lower Cretaceous sandstones. Seven-inch casing has been set and testing equipment is currently being mobilized from China. Test results are expected to be available over the next 60 days.

Company president and chief executive officer, John Nelson, concurs with comments recently made by the president of its partner, Africa Oil Corp. (AOC), stating: "Our first well in Africa appears to be a potential gas discovery. The size and commerciality has yet to be determined by testing, however, the initial analysis highlights the excellent prospectivity of the block. Following the test results, the joint-venture partners will meet to discuss the plan for potential Bogal appraisal work, in addition to exploring marketing scenarios to best commercialize gas in East Africa."