FirstAfrica Oil completes appraisal well offshore Gabon

Feb. 28, 2006
FirstAfrica Oil Plc has completed the East Orovinyare-4 appraisal/development well offshore Gabon.

Offshore staff

(West Africa) - FirstAfrica Oil Plc has completed the East Orovinyare-4 (EOV-4) appraisal/development well offshore Gabon.

Using theAdriatic IX jackup rig, operated by First Africa Oil's subsidiary GGPC, the principal objective of the well was to appraise the eastern flank of the East Orovinyare structure.

The well encountered the Batanga sandstone reservoir at the expected depth, confirming the structural interpretation.

An oil column of 165 ft (128 ft forecast) was encountered.

BP America Production has awarded a 3-yr contract extension to the Discoverer Enterprise in the GoM.

Unexpected oil shows were encountered within the deeper Anguille formation, which was not an objective of this well.

These oil shows will be further evaluated.

Drillstem testing of the Batanga reservoir recovered oil with API gravity 37.5°.

Mechanical difficulties prevented oil flows from being achieved. These difficulties were specific to this well and are not expected to recur in subsequent drilling.

EOV-4 has been temporarily suspended with theAdriatic IX rig moving to another contract.

Full analysis of the reservoir and test data for EOV-4 and the crude sample recovered is underway.

Drilling on the field will continue with the arrival of theAdriatic VI jackup rig in spring 2006.

FirstAfrica is the permit holder (100%) and operator of the EOV field, which is located 13 km offshore in 28 m of water.

Oil was discovered by the previous operator, Marathon, in the late 1990s, and a recent review of the field's technical data by the independent consultant, ECL, has led to an increase in oil volume estimates, with a new 2P estimate of recoverable oil of 11.5 MMbbl.

The EOV-4 well is the first of four wells to be drilled in the field. Additionally, two pre-existing appraisal wells are to be re-completed as producers.

It is expected that production will be from 6 wells via infield flowline to an FSO.