Ophir Energy Plc Taachui gas discovery (7706I)
04 June 2014 - 4:00PM
UK Regulatory
TIDMOPHR
RNS Number : 7706I
Ophir Energy Plc
04 June 2014
Ophir Energy plc
Taachui gas discovery
London, 4 June 2014: Ophir Energy plc ("Ophir" or "the Company")
announces the successful results of the Taachui-1 & subsequent
Taachui-1 ST1 well in Block 1, Tanzania which has resulted in a new
gas discovery. Ophir holds 20% of Blocks 1, 3 and 4. BG Group
operates with 60%.
The Taachui-1 well was drilled by the Deepsea Metro I drillship
close to the western boundary of Block 1. The well was sidetracked
for operational reasons to complete as the Taachui-1 ST1 well and
was drilled to a Total Depth of 4215mMD. The well encountered gas
in a single gross column of 289m within the targeted Cretaceous
reservoir interval. Net pay totalled 155m. Observed reservoir
properties are in-line with those encountered at Mzia, the other
Cretaceous-aged discovery on Block 1. Estimates for the mean
recoverable resource from the discovery are c.1.0 TCF. The size of
the gas column is such that the discovery could extend into a
second compartment to the west which has the potential to be of a
similar size. An appraisal well will be required to confirm this
upside and is under consideration by the JV partners.
A Drill Stem Test will now be performed on the Taachui discovery
with results expected before the end of June.
Nick Cooper, CEO, commented:
"The Taachui-1 discovery continues the 100% drilling success
rate on Blocks 1, 3 and 4 and adds further resource to support the
LNG development in Tanzania. The result is important to Ophir for
two reasons: firstly it extends the proven hydrocarbon system to
the eastern limit of, and partly de-risks, Ophir's East Pande
permit on which the Tende-1 well will be drilled later in 2014;
secondly the aggregate recoverable volumes of c.16.7 TCF are now
approaching the threshold needed to underpin a potential third LNG
Train from Blocks 1, 3 and 4."
Ends
For Further Enquiries please contact:
Ophir Energy plc +44 (0)20 7811 2400
Nick Cooper, CEO
Richard Rose, Corporate Communications and Strategy
Brunswick Group +44 (0)20 7404 5959
Patrick Handley
Elizabeth Adams
Notes to Editors
Ophir Energy (OPHR.LN) is an upstream oil and gas exploration
company which is listed on the London Stock Exchange (FTSE 250).
Ophir has an extensive deepwater acreage position in West and East
Africa acquired since its foundation in 2004.
The Group's headquarters are located in London (England), with
operational offices in Perth (Australia), Dar es Salaam and Mtwara
(Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon) and
Nairobi (Kenya)
For further information on Ophir, please refer to
www.ophir-energy.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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