Ophir Finds Gas at Silenus East-1 Well in Equatorial Guinea's Block R

Africa-focused Ophir Energy plc announced Tuesday that it has found gas at Silenus East-1 well in Equatorial Guinea's offshore Block R, with the result providing more resources to expand the block's floating liquefied natural gas (FLNG) project by 0.5 million tons per annum (MMtpa).

The Silenus East-1 well was drilled by Vantage Drilling Company's Titanium Explorer (UDW drillship) within the thrust belt area of Block R. A 219.8 foot (67 meter) gross gas column was encountered in the primary target with high quality reservoir in line with pre-drill expectations.

"The well was deepened to test a secondary high risk oil target and encountered high quality, but water-wet, reservoirs with weak oil shows. This play remains of interest to Ophir and will be further evaluated on the Block," Ophir said in a press release.

The Silenus East-1 well contains around 405 billion cubic feet (Bcf) of mean recoverable gas and total mean recoverable gas in the broader Silenus area is now estimated at around 1.2 trillion cubic feet (Tcf). Meanwhile, the total estimated mean recoverable resources for Block R are 3.4 Tcf, comprising 1.3 Tcf from the Fortuna Complex, 1.2 Tcf from the Silenus Complex, 0.5 Tcf from Tonel and 0.4 Tcf from the other smaller discoveries.

"The Silenus East well result has confirmed sufficient incremental volumes for Ophir to be able to expand the Block R FLNG project from a 2.5 MMtpa to a 3.0 MMtpa project. This is important in that it provides economies of scale that increase the value of this already economic project. First gas from the FLNG project is expected to be in early 2019 and this timetable is expected to be confirmed when we achieve the milestones of signing the Block R gas terms and confirming the midstream partners during 4Q 2014," Nick Cooper, Ophir's CEO, commented in the press release.

The Titanium Explorer drillship has moved to complete the Fortuna-2 appraisal well, where Ophir will conduct the first flow test in Block R.



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