Pancontinental Confirms Oil Discovery at Sunbird-1 Well Offshore Kenya
by Pancontinental Oil and Gas NL
|Wednesday, June 18, 2014
Pancontinental Oil and Gas NL reported Tuesday that, after lengthy analysis, it has been verified that the recently completed Sunbird-1 well in area L10A off the southern Kenyan coast has intersected an oil column – the first-ever oil discovered off the East African coast.
The gross oil column is assessed to be 46 feet (14 meters) thick beneath a gross gas column of 97 feet (29.6 meters) in a reefal limestone reservoir in the Sunbird Miocene Pinnacle Reef in area L10A.
The corresponding net values are 30 feet (9.2 meters) for the oil zone and 92 feet (28.3 meters) for the gas zone. The net values are calculated for the reservoir using cut-offs of 10 percent porosity (Phi) and 50 percent shale volume (Vsh). Oil and gas samples have been recovered and analyzed using sophisticated geochemical techniques.
The Sunbird Reef is an ancient Miocene pinnacle reef buried beneath approximately 2,952 feet (900 meters) of younger sediment.
Pancontinental believes the results are highly significant because they are the first proof of the presence a prospective oil system in the Lamu Basin offshore Kenya. The oil and gas have been geochemically typed in detail and the prospective source rocks have been dated and characterized for use in future exploration.
Analysis of the Sunbird results has been complicated by the loss of drilling mud, seawater and remedial cement pumped into the limestone reservoir during drilling operations.
Pancontinental has an 18.75 percent interest in the well and block L10A. Pancontinental has 3 extensive exploration areas in this highly prospective Basin covering a total area of approximately 5,791 square miles (15,000 square kilometers), including L10A.
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