Diega well flow test results confirm substantial rates

Noble Energy has announced flow test results from the Diega oil discovery in block I offshore Equatorial Guinea.

Offshore staff

HOUSTON -- Noble Energy has announced flow test results from the Diega oil discovery in block I offshore Equatorial Guinea. The Diega well encountered approximately 38 ft (11.6 m) of net gas-condensate pay in the primary zone, as well as an additional 30 ft (9.1 m) of net gas-condensate pay underlain by 37 ft (11.3 m) of net oil pay in a previously untested feature, the company says.

Testing procedures, which were only performed on the oil reservoir, yielded a flow rate of 2,700 b/d of oil and 2.7 MMcf/d of natural gas. According to Noble, performance modeling indicates the development well completions can be designed to achieve production rates of approximately 10,000 b/d of oil plus associated natural gas. Fluid samples taken during the test indicated similar crude oil characteristics to Benita. The rig has been released from location.

""The test results from the Diega oil zone are very positive, confirming that this new oil resource can be produced at substantial economic rates," says Charles D. Davidson, Noble Energy's chairman, president, and CEO. "Diega complements our Benita oil discovery, which is targeted for sanction in 2009 with first oil in 2012. We are excited and encouraged about the potential in this newly discovered lower Miocene reservoir. Our teams are working aggressively to further identify the extensive potential that remains on our large acreage position and to continue our active exploration and development programs in 2009.""

08/28/2008

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