Afren PLC Drilling Report (8166Z)
December 16 2014 - 2:00AM
UK Regulatory
TIDMAFR
RNS Number : 8166Z
Afren PLC
16 December 2014
Completion of Madagascar Block 1101 drilling and coring
operations
London, 16 December 2014
Afren plc ("Afren" or the "Company"), operator of Block 1101
onshore Madagascar, is pleased to announce the completion of its
drilling and coring operations and the discovery of oil in two
boreholes drilled on the block.
A total of four strategic locations on Block 1101, which
measures some 11,200 km(2) (2.8 million acres), were successfully
drilled and cored to an aggregate depth of 2,000m (6,500ft) with
approximately 1,760m (5,720ft) of core samples recovered. Drilling
at each of the locations successfully completed the respective
technical objectives to assess specific aspects of the Block's
petroleum systems.
Two core holes were drilled to depths of 650m (2,112ft) and 500m
(1,625ft) adjacent to the 1902 coal borehole (Ankaramy-1) which had
reportedly encountered "hydrocarbon shows". Cores recovered from
both locations indicated the presence of hydrocarbons and
potentially good reservoir quality over multiple zones.
Early indications provide further evidence of at least three
different source rocks working across the Block in Triassic,
Jurassic and Cretaceous zones. Further detailed analysis of the
cores will be undertaken in Q1 2015 to confirm the nature and
extent of the hydrocarbons.
http://www.rns-pdf.londonstockexchange.com/rns/8166Z_-2014-12-15.pdf
Toby Hayward, Interim Chief Executive of Afren, commented:
"We have made good progress on Block 1101 with encouraging
results indicating the presence of oil over several zones. This
underscores the high quality of our East African portfolio and we
look forward to working with our partner (Oyster Oil and Gas
Limited) to determine the nature and extent of the discovery."
For further information contact:
Gavin Davis
Henry Lerwill
Bell Pottinger (+44 20
3772 2500)
Simon Hawkins
Group Head of Investor
Relations
Afren plc (+44 20 7864
3700)
Notes to Editors
Afren is an independent upstream oil and gas exploration and
production company listed on the main market of the London Stock
Exchange and a constituent of the Financial Times Stock Exchange
Index of the leading 250 UK listed companies. Afren has a portfolio
of assets spanning the full cycle E&P value chain. Afren is
currently producing from its assets in Nigeria and the Kurdistan
region of Iraq and holds further exploration interests in Nigeria,
Ghana, Côte d'Ivoire, the Kurdistan region of Iraq, Congo
Brazzaville, Kenya, Ethiopia, Madagascar, Seychelles, Tanzania and
South Africa. For more information please refer to
www.afren.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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