Noble Affiliates Announces Discovery Offshore Equatorial Guinea

Noble Affiliates, Inc. announced a significant natural gas and condensate discovery with its exploratory Estrella - 1 well offshore the Republic of Equatorial Guinea in West Africa.

Noble Affiliates’ indirect wholly owned subsidiary, Samedan of North Africa, Inc., has a 33.75 percent interest. Participants include: CMS Oil and Gas (E.G.) Ltd., a subsidiary of CMS Energy Corporation, which is the operator and holds a 52.38 percent interest; Globex International, an indirect wholly owned subsidiary of GLOBEX Energy, Inc. with a 10.87 percent interest; and the Government of Equatorial Guinea with a 3.0 percent interest.

The jackup, Randolf Yost, drilled the Estrella - 1 well to a depth of 10,324 feet in approximately 200 feet of water 22 miles northwest of Bioko Island. The well flow tested at a combined stabilized rate of 6,780 barrels of condensate and 47.3 million cubic feet of natural gas per day from two intervals between 6,950 and 7,200 feet. The flowing tubing bottom hole pressure was measured at 4,802 pounds per square inch on a 48/64-inch choke. The shut-in bottom hole pressure was measured at 4,920 pounds per square inch.

The well results are currently being evaluated for possible early production. The Alba Field "A" platform is located approximately five miles south of the Estrella well. Further drilling to determine the ultimate size of the Estrella accumulation is being evaluated.

The Alba Field currently produces more than 14,000 barrels of condensate and approximately 2,300 barrels of natural gas liquids per day.