|Wednesday, June 14, 2000
The Ceiba-3 development well offshore Equatorial Guinea has confirmed the primary reservoir found in the Ceiba-1 and Ceiba-2 wells, according to Triton Energy. The Ceiba-3 well was drilled by Global Marine's drillship Robert F. Bauer to a total depth of 9,695 feet in 2,165 feet of water and encountered 256 feet of net oil-bearing pay. The Ceiba-3 well has validated lateral reservoir continuity and connectivity in the oil reservoir tested in the Ceiba-1 well and confirmed in the Ceiba-2 well. The extent of the new, deeper reservoir, not seen in the first and second wells, will be determined by future drilling. The discovery is located 22 miles offshore Equatorial Guinea in block G. Development plans call for Ceiba-3 to be completed this summer. Meanwhile, Transocean Sedco Forex's semisubmersible, Sedco 700 is drilling the Ceiba-4 well, which spudded May 31st. Once all four wells are completed, operations will begin to hookup the first four wells to the field's early production system so that first oil can be achieved by the fourth quarter of this year. Once the Robert F. Bauer has drilled the Ceiba-3 well it will spud the Ceiba-5 delineation well. Triton Energy owns an 85% percent working interest and is the operator of Blocks F and G, Energy Africa Ltd. holds the remaining 15% interest.