Africa Oil has provide an update on its East African oil and gas operations. The Company has assembled a highly prospective portfolio of oil and gas exploration assets in Kenya (Blocks 9, 10A and 10BB), Ethiopia (Adigala, Ogaden 2/6 and 7/8) and Somalia (Dharoor and Nogal), as well as attracting an excellent group of joint venture partners. The Company is the operator of all blocks except Block 9 in Kenya.
Preparations for an aggressive drill campaign over the next two years have advanced significantly with the first well anticipated to spud by the end of October.
The Bogal-1-1 well in Block 9 is expected to spud at the end of October, 2009. The rig, materials and other equipment are currently being mobilized from China. The Bogal well will target Jurassic reefal limestone and Cretaceous sandstones with a projected total depth of approximately 5000 meters. Numerous additional prospects have also been identified within Block 9 and are being evaluated for possible future drilling. CNOOC is the operator of Block 9.
Interpretation of reprocessed vintage seismic data from Block 10A is currently underway. The new data has provided a clearer image of vast sub-basins within the block. To supplement the existing data, approximately 750 kilometers of new 2D seismic will be acquired.
A technical re-evaluation of newly acquired Block 10BB is underway. As the block has an existing oil discovery (Loperot), various exploration strategies such as appraisal drilling, offset exploration drilling, and conventional 2D or 3D seismic exploration are being considered. Seismic acquisition is anticipated to commence in the second quarter of 2010.
A 500 kilometer, 2D seismic acquisition program commenced in August on the Adigala block. Approximately 100 kilometers of data have been recorded to date with the balance expected to be completed in October, 2009. Preliminary evaluation of the Adigala seismic data acquired so far indicates that a prospective sedimentary basin exists within the Company's acreage. Sedimentologic and geochemical analyses of outcrops along the periphery of the basin have shown the existence of reservoir rocks and oil prone source rock.
Upon completion of the seismic survey at Adigala, the contractor will mobilize to Ogaden Blocks 2/6 and 7/8 where a 500 kilometer, 2D seismic program is scheduled to commence towards the end of the year. The seismic program will target previously identified robust leads with a goal of maturing these leads to drillable prospects. The seismic program at Ogaden is expected to be completed by the end of the first quarter of 2010.
Following Africa Oil's successful acquisition of 775 kilometers of 2D seismic in the Dharoor Block, prospects for 2010 drilling are being finalized. Preliminary interpretations indicate the presence of robust prospects, which have the potential to contain large reserve volumes.
The Company's interpretation in the Nogal Block is complete. Excellent prospects have been identified and the first drill site has been firmed up on the Nogal South Prospect.
All preparations for the Somali drilling campaign are complete. However, drilling will only commence after agreement is reached in ongoing discussions with the new Puntland Government.
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