The Songa Saturn drillship will remain on Block "I" where it will move to test an additional Miocene exploration prospect that is on trend with the Belinda discovery located on Block "O" offshore Equatorial Guinea.
Noble Energy is the Technical Operator of Block "I" with a 40 percent participating interest. Its partners on the block include Atlas Petroleum International Limited (29 percent participating interest), who is the Administrative Operator, Glencore Exploration Ltd. (25 percent participating interest) and Osborne Resources Limited, a company within the PA Resources Group (six percent participating interest). GEPetrol (the national oil company of the Republic of Equatorial Guinea) has a five percent carried interest once commerciality has been determined.
Charles D. Davidson, Noble Energy's Chairman, President and CEO, said, "The success at Yolanda continues the momentum of our exploration and appraisal drilling program in Equatorial Guinea. This discovery represents our fourth consecutive successful well in Equatorial Guinea. Since beginning our exploration program in late 2005, there has only been one dry hole out of the six wells drilled in Blocks "O" and "I". Our discoveries, which include both gas-condensate and oil fields, have confirmed that this basin contains significant hydrocarbon resources. We look forward to additional exploration and appraisal drilling while moving forward with our planning for commercial development of these important discoveries."
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