Offshore Ghana Well Reaches TD, Exploration of Keta Block Continues

Afren has announced that drilling operations have been completed at the Cuda-1x exploration well, located in the Eastern Basin offshore Ghana.

The Cuda-1x exploration well, the first well to target the Cretaceous prospectivity in the block, reached a total measured depth of 12,425ft. Drilled in 5,597ft of water by the Transocean Deepwater Discovery drillship, the well encountered an unexpectedly severe high pressure zone in the top of the Upper Cretaceous which ultimately required Cuda-1x to be plugged and abandoned. This was prior to the well penetrating the primary Cretaceous objectives which remain of high potential but untested.

Evaluation of the well results is ongoing and will be incorporated in further prospect evaluation and future well planning on the Keta Block.

Osman Shahenshah, Chief Executive of Afren, commented, "Whilst we are disappointed at the outcome of this operation, we remain highly optimistic as to the exploration potential of the Keta block, where several attractive prospects, in addition to Cuda have been identified.

"The Cuda-1 well was targeting a previously unpenetrated section in a sparsely drilled basin, and has provided Afren and its partners with valuable information that will assist future exploration efforts in this world class block which has billion barrel potential."

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