Energy Africa Participates in Another Ceiba Field Discovery

Energy Africa has participated in another successful oil discovery offshore Equatorial Guinea. Logs and pressure data from the G13 well confirmed that hydrocarbon saturations previously reported were light oil in a potentially commercial reservoir interval. The G13 well is located approximately 18 kilometers south of the Ceiba Field in the Rio Muni basin.

The base of the oil column has not yet been reached and its extent may be greater than that already seen. Drilling will continue but further results are unlikely before the middle of next week. The commerciality of the discovery cannot yet be evaluated and appraisal drilling will probably be required to determine the full extent of the accumulation, according to an Energy Africa report.

Rhidwaan Gasant, Energy Africa Limited's Managing Director said: "This is our fifth discovery this year. We are very encouraged by the results of the G13 well and we are confident that further discoveries will be made in Blocks G and F in the Rio Muni Basin."

Energy Africa has a15% interest in block G and F along with the operator, Amerada Hess.