Tap Oil Updates on Starfish-1 Drilling
Tap Oil Limited provides the following update of the Starfish-1 oil exploration well in the Offshore Accra Contract Area, Ghana.
The well will target a large stratigraphic trap in the deep water of eastern Ghana, interpreted to be potentially comparable to the Jubilee oil field in western Ghana. Tap estimates that the well will target prospective resources potentially half a billion barrels, (431 million barrels (P50)).
Location and Proposed Depth
The Starfish prospect is located in the Offshore Accra Contract Area in offshore Ghana along the prolific offshore West African Margin. The Starfish prospect was matured following reprocessing of the original 3D seismic data and the acquisition of the new 3D survey in 2011 over the outboard deep water area.
The Contract Area is now covered by quality 3D seismic data. In the event of a discovery at Starfish-1 confirming a significant petroleum system, there are a number of other leads and prospects identified on the block that would be of interest. The Operator, Ophir Energy, continues to work on the existing lead and prospect inventory.
The well will be drilled as a vertical well in a water depth of 4,921 feet and is expected to take 35 days (trouble free) to drill to a proposed total depth of 14,961 feet. Tap’s cost for the well is expected to be approximately $10.6 million (AUD 11.6 million).
During the period from 1400 hours (AWST) June 19 to 1400 hours (AWST) June 25 the well was drilled to a depth of 8,619 feet. The 20 inch casing was run and set at 7,277 feet and the BOPs were installed, prior to drilling ahead in the 17.5 inch hole section.
The forward plan is to drill ahead in 17.5 inch hole to the next casing point planned at 9,478 feet.
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