FirstAfrica Oil Encounters Good Oil Shows at East Orovinyare-4

GSF Adriatic IX
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East Orovinyare-4, Offshore Gabon
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FirstAfrica Oil has completed the East Orovinyare-4 (EOV-4) appraisal/development well in offshore Gabon. Using the Adriatic IX, and operated by First Africa Oil's wholly owned subsidiary GGPC, the principal objective of the well was to appraise the eastern flank of the East Orovinyare structure.

The well encountered the Batanga Sandstone reservoir at the expected depth, confirming the structural interpretation. An oil column of 165 ft (128 ft forecast) was encountered.

Unexpected oil shows were encountered within the deeper Anguille Formation which was not an objective of this well. These oil shows will be further evaluated.

Drill Stem Testing of the Batanga reservoir recovered oil with API Gravity of 37.5 degrees. Mechanical difficulties prevented oil flows from being achieved. These difficulties were specific to this well and are not expected to recur in subsequent drilling.

EOV-4 has been temporarily suspended with the Adriatic IX moving to another contract. Full analysis of the reservoir and test data for EOV-4 and the crude sample recovered is under way and results will be announced in due course. Drilling on the field will re-commence with the arrival of the Adriatic VI in Spring 2006.

Commenting on the drilling, Robert Kirchner, Chief Executive of FirstAfrica, said, 'I am very pleased with what has been achieved in EOV-4. When the 'fast-track' development of the EOV Field was first conceived in summer 2005, many told us that it could not be done. Against intense competition for rigs and materials, we secured two rigs for the field development program, the first well of which has now been drilled. Preparations are now in place for the next phase of drilling. This progress is testament to our experienced technical team who have now firmly established this company's operational capabilities. Our plans remain on track to achieve first oil before the year end.'
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