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Ophir Energy Fails to Find Hydrocarbons at Starfish-1 Well

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Ophir Energy plc announced the completion of drilling activities at the Starfish-1 well in the Offshore Accra Contract Area, offshore Ghana. Ophir holds a 20 percent participating interest in the license and is operator.

Drilling update

Starfish-1 was drilled by the Stena DrillMax (UDW drillship) in the frontier Keta basin, located within the West African Transform Margin play. The well was drilled in 4,889 feet (1,490 meters) of water and reached a total depth of 14,265 feet (4,348 meters) subsea. Wireling logging has confirmed the presence of a gross approximately 755 feet (230 meters) sandstone interval in the primary (Lower Cretaceous) target interval although logs show these to be water wet. The secondary target (Orca) contained poorly developed sands which were also water-bearing.

Well operations have been completed and the rig has now been released.

Nick Cooper, CEO, commented:

"Whilst it is disappointing that the first well on this license has been unsuccessful, our primary reason for farming-in to this acreage was the play potential outboard of the Starfish prospect. The results of this well will provide valuable geological information as we look to analyze the further prospectivity of the license area."

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