Baraka's Mauritania Drilling Program on Track
Baraka Petroleum and its partner CNPC say that plans for drilling of the Heron-1 exploration well onshore coastal Block 20 in Mauritania are on target for a spud date in Q3 2006.
The JV partners have confirmed the Total Depth (TD) of the Heron-1 well has been fixed at 3800m, with primary objectives in the Cenomanian sands and a secondary target in the Albian-Aptian sand and limestone interval.
A revised probabilistic evaluation of the Heron -1 structure prepared by ISIS Petroleum Consultants confirms an undiscovered prospective OIIP (oil initially in place) of 465 Million barrels (MMbbls unrisked) for both the Cenomanian and Albian-Aptian targets with a prospective resource of approximately 132 Million barrels (MMbbls) of which the Company's share would be 35%.
A shallow gas target has also been identified and is a third, albeit important, objective for evaluation in the present program. This potentially sizable low-pressure gas prospective resource at a depth of approximately 1000m will be evaluated, following drilling results, for development to service local and regional power demand.
Baraka's Chief Operating Officer, Dr Satyavan Reymond said, "the substantial progress of the Operator CNPCIM towards the spud date for Heron-1 and the completion of the probabilistic evaluation of the potentially hydrocarbon bearing zones gives the JV partners greater degree of optimism leading into the first drilling in Block 20."
"This is not only a milestone for Baraka and CNPCIM, but is also a step towards the development of the oil and gas industry onshore Mauritania following the country's recently announced first offshore commercial production."
The Government of Mauritania approved the B20 work program for 2006, including the
drilling of Heron-1, on February 15, 2006. This work program was defined in the
Production Sharing Contract (PSC) signed on March 22, 2005 and ratified by the Mauritanian Parliament on July 13, 2005.
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Company: Baraka Petroleum more info
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