Maurel & Prom Discovers New Oil Reservoirs in Gabon

Maurel & Prom reported that the Onal 1002 well has reached a vertical depth of 1,195 meters. The well has encountered 82 meters of hydrocarbon-impregnated reservoirs in the Kissenda Sandstone. Selective tests at a depth of 41 meters have given a cumulative oil flow rate of 1,300 bpd. The extent of these results was unexpected.

The discovery of oil reservoirs in the Kissenda formation in the South-East of Onal and the results of test obtained on OMOC-1 in March 2009 (1,130 bpd in the two formations) indicate a strong probability of extension of the reservoirs between these two zones.

The importance of this discovery, the majority of it situated in the Onal operating permit, will depend on the level of the water surface at Kissenda and the thickness of the impregnated reservoirs.

These two uncertainties will be lifted after the drilling of a well by Caroil 9, once the platform is built. Production from the Onal-1002 well could replace the production expected from the Omko 301 well, which has shown disappointing results.

Failure of well OMSN-1

The OMSN-1 well has encountered non-mobile hydrocarbons indications. The drilling of this well confirms that oil was indeed generated in this section of the Omoueyi license (M&P 100%). An additional seismic survey has been initiated to locate, ahead of the well, any potential oil traps for the oil that presence has been proved by the previous wells.

Update on current projects

Mafia -- Tanzanie

  • Drilling has encountered technical problems that are not serious but given the depth and temperature have created long delays at each maneuver. If there are no further incidents, the first test results are expected for the end of the month.

Draco -- Syrie

  • Drilling has reached a depth of 2,962m (in the Trias). The target is 3,600/3,900m. No surprise to date.

Cascabel -- Colombie

  • The well has reached a depth of 2,915m. The target is 5,100m (early February 2010), common depth in this region. The results are perfectly in line with predictions.

Tietie -- Congo

  • This well has been hold back by labor movements and torrential rains. It should start before the end of the month.

M'Bafou -- Congo offshore

  • The rig will be in place before the end of November.

N'Goumba - Congo

The start of the drilling is depending of the weather conditions. It is expected for mid-December.

Gwedidi -- Gabon

  • The drilling of the well is expected to start on November 23, 2009.

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