Maurel & Prom to Bring Onal Field in Gabon Onstream in 2007

Maurel & Prom says the last assessment well (ONAL 7D) was drilled to a depth of 400 m South-East of ONAL6 at the limit of the seismic coverage. Drilled in 12 days, it found 121 m of reservoir of which 108.8 m were perforated. The production tests on a 32/64 choke produced 600 b/d of a 32degrees API anhydrous oil, similar to that already found by the previous wells.

After the ONAL1 and ONAL2 exploration wells, drilled in 1991 by Conoco and showing the presence of oil but not indicating the extent of the field, Maurel & Prom drilled, at the beginning of 2006, five assessment wells, OZO1 (proving the extent of the reservoir), ONAL3 (600 b/d), ONAL5 (950 b/d) and ONAL6 (1 000 b/d); only ONAL4 gave no oil result.

The seismic campaign (2D) designed to ascertain the structure of ONAL and explore the whole permit began in mid-August. The aeromagnetic reconnaissance campaign will be run during the last quarter.

On September 11, 2006, Maurel & Prom submitted to the Republic of Gabon Authorities all the relevant information so that they can make a decison on the commercially exploitable character of this field.

Maurel & Prom is planning to put the ONAL field into production at the end of 2007.

To take advantage of the 2006 dry season, reconnaissance of the route followed by the outgoing pipeline has been carried out.