White Nile Awaiting Outcome of E&P Talks in Sudan
White Nile Ltd on Monday said that it is awaiting official notification from the Government of Southern Sudan as to the conclusion of negotiations taking place in Khartoum between representatives of the governments of Northern and Southern Sudan in regard to oil exploration and production issues in Southern Sudan.
The talks encompass all oil license areas in Southern Sudan--including Block Ba, where White Nile has its rights granted by the Government of Southern Sudan. White Nile has received early indications that the discussions will establish clarity of title for Block Ba and the Company will update its shareholders when official clarification has been obtained.
White Nile also announced an update on its drilling program in Southern Sudan. Its first exploration well, Kedelai-1, situated in Block Ba 200 km north of Juba in the Jonglei State of Southern Sudan, spudded on 19 April 2007. With the onset of the rainy season, activity on the drill site as planned has been temporarily suspended, with the well at a total depth of 2,408m. The rig is being cold-stacked on the well location, and drilling will be resumed at the beginning of the next dry season - Q4 2007. Following resumption of drilling, the Company plans to extend Kedelai-1 to approximately 3,000m to evaluate reservoir objectives in the Aradeiba and Bentiu formations.
White Nile is also preparing additional drilling locations on two further prospects identified through its initial seismic program in the Jonglei State. This is where the Company believes the Muglad Basin, which is productive at Thar Jath, Mala, Heglig and Unity to the northwest of Block Ba, extends into the concession area.
Furthermore, the Company is currently concluding plans to perform a 2D seismic survey in the Pibor Post basin in the eastern part of Block Ba approximately 200 km to the east of the the current drilling operations. Seismic shooting will begin at the beginning of the next dry season.
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