Neighboring oil strike
AFRICA OIL: NGAMIA-1 WELL DISCOVERS ADDITIONAL OIL IN KENYA
Africa Oil Corp. has provided the following update in respect of the previously announced oil discovery at the Ngamia-1 well on block 10BB, Kenya. Africa Oil holds a 50-per-cent working interest in this block, which is operated by Tullow Oil PLC, which holds the remaining 50-per-cent interest.
The Ngamia-1 exploration well in Kenya has now been deepened to a total depth of 1,515 metres and has encountered in excess of 100 metres of net oil pay in multiple reservoir zones over a gross interval of 650 metres. Following the initial announcement on March 26, 2012, that Ngamia-1 had encountered in excess of 20 metres of net oil pay, the well has now been deepened from 1,041 metres to 1,515 metres. A further four good quality, oil-bearing reservoir zones have been encountered. Due to deteriorating hole conditions, a sidetrack of the well was required to deepen the well. Moveable oil with an API greater than 30 degrees has been recovered to surface from six of these intervals. This oil has similar properties to the light waxy crude encountered in the upper reservoir zone.
The Ngamia-1 well will now be drilled to a depth of approximately 2,700 metres to explore for deeper potential including the Lokhone sandstone which was one of the primary objectives of this well. Plans are in place for at least two drill stem tests upon completion of drilling operations. The Weatherford 804 rig will then move to Block 13T where the Twiga-1 (formerly Mbango South) wildcat well will spud in the second half of 2012. A further rig is being sourced to drill the Block 10A Paipai prospect in the Cretaceous Anza Graben system.
Africa Oil president and chief executive officer, Keith Hill, stated: "The total pay sand thickness in this well has far exceeded predrilling estimates and certainly has highly positive implications for numerous similar prospects on trend. Based on these results, we are working with our partner Tullow to source additional rigs and acquire additional seismic to accelerate the exploration campaign in this basin. Our goal in the near term will be to assess the size and extent of the potential of this newly discovered basin."
