Pride Cabinda Moves On from Plugged Well in Congo Basin

The Liyeke Marine 1 well, spudded on August 22, 2009 in the Marine XI Block, located in the Congo Basin, offshore the Republic of Congo, was plugged and abandoned after reaching a total depth of 1,140 meters. The objective horizon in the Sendji formation was encountered in accord with the prognosis though the reservoir was water saturated. A 62 meter heavy oil column was encountered in the overlying sediments, but the log and sample data indicated that the oil would not flow.

As the salt section to the south and west of the Liyeke well is thinner and discontinuous, the result of this well has no bearing on the post-salt prospects in this area. More importantly it has no impact on the pre-salt prospects where the source rocks are adjacent to the prospective reservoirs.

The jackup drilling rig Pride Cabinda is now being prepared to be moved to the second well, an appraisal of the existing pre-salt Viodo oil field at a location approximately one kilometer from the field's discovery well.

Ed Story, President and Chief Executive of SOCO, commented, "Although we knew there was a migration risk on this shallow post salt prospect, it was an interesting target for a low cost wildcat well. Moreover, this well result has no impact on the pre-salt prospects which is the primary play in this and our other West African Blocks."