Zoule-1 Fails to Find Hydrocarbons



Hardman Resources reports that the Zoule-1 exploration well in PSC C Block 6 is currently being plugged and abandoned after failing to encounter significant hydrocarbons.

Following the completion of this operation, the Stena Tay will move to the Dore-1 well in PSC B, Block 4. The Dore prospect is located approximately 20 kilometers east of the Tiof field, and 30 kilometers north of the Chinguetti field in water depth of approximately 390 meters. The well will be drilled to a proposed total depth of 2,350 meters and will target Oligocene aged submarine channel/turbidite sands as well as encountering the updip extension of the Tiof Miocene canyon system.

Upon completion of the Dore-1 well the Stena Tay rig will be released by the PSC A and B Joint Ventures. With the recognition of a number of attractive prospects in the shallower, eastern part of PSC A and B a rig capable of drilling in shallower water depths than the targets of the 2004 and 2005 programs was required. The Atwood Hunter, which is capable of drilling from approximately 100 to 1,500 meters, has been contracted to conduct the PSC A and B 2006 and 2007 drilling campaigns and is due to arrive in Mauritania in the second quarter of 2006 after completing its current commitments. The initial exploration wells will be drilled in PSC A and are likely to include the Colin/Colin Deep, Kibaro and Awatt prospects. Hardman's 2006 Mauritania exploration program is expected also to include wells in PSCs B, 7 and 8. The Atwood Hunter provides the joint ventures with significant operational flexibility as it is able to carry out work on any of the Chinguetti development wells, if ever required, as well as conducting appraisal on existing discoveries.

Participants are Woodside as operator; Hardman Resources, BG Group, Premier Oil, Roc Oil, Fusion Oil, Petronas and Societe Mauritanieene des Hydrocarbures (formerly GPC).

RELATED COMPANIES
Company: Woodside more info
Operates 3 Offshore Rigs
 - Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
 - Global LNG: Faltering Supply Prompts Short-Covering Price Rally (Aug 11)
 - Woodside Sees Output Growing 15 Pct Over Next Three Years (May 23)
Company: BG Group more info
 - Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
 - Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
 - Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)
Company: Roc Oil more info
 - Santos Names Roc Oil CEO Anthony Neilson as CFO to Replace Andrew Seaton (Sep 19)
 - SapuraKencana Clinches $72M of Work in Malaysia, India & Cote d'Ivoire (Dec 08)
 - Faroe Completes Roc Oil Acquisition (Nov 06)
Company: PETRONAS more info
Operates 12 Offshore Rigs
 - After Europe's Gas Market Disasters, LNG May Come to the Rescue (Dec 12)
 - Petronas Unit Agrees Share Swap With Shell's Africa Operator (Dec 05)
 - Malaysia's Petronas Asked To Exit Myanmar In Protest Of Rohingya Crisis (Nov 08)
Company: Premier Oil more info
Operates 1 Offshore Rigs
 - European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
 - Mexico Oil Privatization Pays Off With Billion-Barrel Find (Jul 12)
 - Premier Oil Expects Weak Pound To Help Bottom Line (Jan 12)
Company: Hardman Resources more info
 - Stratic Names Thomas CFO, Director (Jun 11)
 - Govt Offers Blocks 2(ab), Guayaguayare to Hardman, Centrica (May 03)
 - Tullow Reports Record Results for 2006 (Mar 21)
Company: Fusion Oil & Gas more info
 - Roc Reports Dry Hole Offshore Mauritania (Aug 01)
 - Mauritanian Government Disputing Amendments to Woodside PSCs (Feb 03)
 - Zoule-1 Fails to Find Hydrocarbons (Jan 12)
Company: Societe Nationale des Hydrocarbures more info
 - Sterling Energy in Dispute with Cameroon over Ntem Block (Dec 01)
 - Noble Picks Up Stake in Cameroon License (Jul 06)
 - Total Wins Cameroon Exploration Block (Mar 15)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.