Burren to Complete Loufika-1 in Congo, Wins Yemen Block
Burren Energy Plc on Tuesday issued a drilling update on the company's Congo assets and announced the award of a new block in Yemen.
Republic of Congo (Brazzaville)
The exploration well Loufika Deep -1, drilled to target the Vandji reservoir (the source of production on the M'Boundi field 35km to the north-west), reached a total depth of 2,842 meters but did not encounter the Vandji target.
The well has been suspended and will be completed for production from the shallower zone, which was tested in original Loufika -1 exploration well (September 2006) at 380 bopd. A light rig has been mobilized to drill 6 delineation wells on this shallow prospect commencing in late December 2006.
The rig used to drill the Loufika Deep -1 well is now being moved to the nearby Tioni Prospect to drill the Tioni-1 exploration well 5km to the south-west of Loufika, again with the Vandji as objective.
Burren said that it has been awarded Block 17 in Yemen in the 3rd bidding round. Block 17 covers an area of approximately 19,400 km(2) centered on the port of Aden, located partly onshore and partly offshore. A PSA will be negotiated early in 2007. Burren will be operator with 100% working interest.
The block had previously been operated by Elf in the late 1980s, and, having evaluated existing seismic data, Burren believes that there are areas of prospectivity that have been overlooked. Burren intends initially to acquire 2D seismic over certain parts of the block both onshore and offshore.
This award complements Burren's existing Block 6 in Yemen and brings the total of Burren's licenses in the Middle East to six, including three exploration licenses in Egypt and an additional exploration license in Oman.
Burren Energy is an independent oil and gas exploration and production group,
headquartered in London. It is focused on four regions: the Caspian region of
the former Soviet Union, West Africa, Middle East and, through a strategic investment stake in the Hindustan Oil Exploration Company, India.
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