Vanco Collects Oil Samples Offshore Cote d'Ivoire

Vanco and partners drilled the first exploration well in Block CI-401 on the Orca prospect. Drilled to a total depth of 13,173 feet (4,015 meters), the Orca-1X-bis well penetrated the targeted objectives, discovering thin sandstone reservoirs. The Deepwater Pathfinder drillship drilled the well in a water depth of 6,129 feet (1,868 meters). Oil samples were taken from the Campanian and Turonian sandstones during the course of the drilling operation, and the well was plugged and temporarily abandoned. Data obtained has expanded the available information about the petroleum potential of the western part of the Tano-Ivoirian Basin, confirming an active petroleum system is present. The Orca prospect is located in the Gulf of Guinea, offshore the Republic of Cote d'Ivoire. Vanco operates the production sharing contracts for Blocks CI-401 and CI-101, holding a 28.34% interest; LUKOIL Overseas holds 56.66%; and Petroci holds the remaining 15% interest.

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