East Africa-focused Cove Energy reported Tuesday that, along with operator Anadarko Petroleum Corporation, it has encountered a further 577 net feet of natural gas pay offshore Mozambique.
The Lagosta-3 appraisal well is located about 2 miles (3 kilometers) west of the Lagosta-1 discovery well and nine miles (15 kilometers) south of the Camarão-1 well in the Rovuma Basin Area 1 block, offshore Mozambique.
Cove said that the highlights from the latest well were:
"We are very pleased to announce this further successful appraisal of the Lagosta discovery, which not only delivers another significant section of gas pay but also considerably extends the western area of the gas field, adding further confirmation to the 15 to 30-plus TCF recoverable gas resource estimate for the WLBC complex," said Cove CEO John Craven.
"With the second rig now on contract, we are proceeding to drill-stem test the Barquentine-2 well and preparing to drill the Barquentine-4 appraisal well. I am also pleased to see that ENI announced last week, the successful flow testing of their Mamba North well located approximately 4 kilometers from Area 1 Rovuma Offshore, adjacent to our Barquentine discovery.
"The project continues to provide significant upside potential as we continue towards final investment decision in 2013."
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