Offshore Nigerian Field Confirmed

Three appraisal wells have confirmed the potential of a previously unknown offshore oil field in Nigeria. A discovery well had previously struck oil in the Nkarika field, but the operators, TotalFinaElf and the Nigerian National Petroleum Corp. postponed announcing the find until further appraisal drilling had been performed. TotalFinaElf has now confirmed three successful appraisal wells have followed the initial discovery well.

TotalFinaElf has declined to release any well results at this time. TotalFinaElf holds a 40% interest in the field, which is located on OML100 and OML102 in approximately 200 feet of water.