Afren Begins Drilling at Okoro Field Offshore Nigeria

AMNI International Petroleum Development Company and Afren report that drilling of the Okoro-3 appraisal well on OML 112, offshore Nigeria, has commenced.

An appraisal well was spudded on October 14, 2006 by the West Titania jackup on the Okoro Field in OML 112. The well is being drilled 1.5km east of the Okoro-1 discovery well, which penetrated two oil bearing sands between 4,900 and 5,500 feet. Drilling is expected to take 30 to 45 days.

Following drilling of the Okoro-3 well, the West Titania will be used to drill a further appraisal well in the Okoro Setu development area. The results of these wells will be used to plan the development of the Okoro Setu fields which is expected to commence in the third quarter of 2007. A drilling rig has been secured to start the development drilling in August 2007, with first oil expected in early 2008 with flow rates of between 15,000 to 20,000 bopd.

Brian O'Cathain, Chief Executive of Afren commented:

"We are delighted to have spudded our first well in Nigerian waters. This marks a significant step towards achieving our stated target of production of 15,000 to 20,000 bopd by early 2008."

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