Etame sidetrack logs oil column

VAALCO Energy has completed a second sidetrack of the Southeast Etame No. 1 (ETSEM-1) exploration well offshore Gabon.

Offshore staff

HOUSTON -- VAALCO Energy has completed a second sidetrack of the Southeast Etame No. 1 (ETSEM-1) exploration well offshore Gabon.

Preliminary data suggests an oil column of up to 27 m (90 ft), based on the estimated oil/water contact. Further analysis will be needed to assess the find’s size and the potential development options.

The discovery well was drilled to a TD of 2,757 m (9,045 ft), encountering around 5 m (16 ft) of Gamba sandstone section that logged oil full to base

Shortly the Sapphire Driller will start drilling a new horizontal development well, Etame 7H (ET-7H). This will replace the original vertical discovery well (ET-1V) and should be completed late this year.

Last month the partners in the Etame Marin concession agreed to drill two further wells following the conclusion of the current program. The first, ETBSM-2H, will be a development well in the South Tchibala field.

The second well, ETOMG-1, will be designed to test both the Gamba and Dentale reservoirs in the Omangou prospect, around 2 mi (3.2 km) southeast of the Ebouri platform and 4 mi (6.4 km) northwest of the center of the Etame field.

VAALCO Gabon Etame operates the Etame Marin Permit with a 28.07% interest, in partnership with Addax Petroleum Etame, Sasol Petroleum Etame, Sojitz Etame, PetroEnergy Resources, and Tullow Oil Gabon.

08/04/2010

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