M'Boundi Field - Congo
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The Loufika-1 exploration well, situated 35 km south-east of the M'Boundi field, has encountered, at a depth of 551 meters, a 100 meter thick sandstone reservoir of which the upper 50 meters are oil-bearing. The initial tests on a part of this oil-bearing section produced a flow rate on pump of 380 bopd of a 26 degree API anhydrous oil. The contractor group envisages drilling several further wells in order to appraise the size of this accumulation.
This discovery of an entirely new play, which has the possibility to extend throughout the Congolese coastal basin (i.e. the Kouilou and La Noumbi license areas), was made in the upper pre-salt layers. Additional works on both these two licenses will be undertaken to further explore this new play.
A new exploration well "Loufika Deep", having the conventional Vandji reservoir as objective, will be spudded once the testing of the current Loufika well is completed."
Burren has a 35% interest in the Kouilou exploration license.
Atul Gupta, Chief Executive Officer, commented:
"This result is very pleasing and highlights the exploration potential of our Congo assets. We will now work with the operator to appraise this shallow discovery whilst proceeding with exploration of the deeper Vandji reservoir."