The company in a press statement indicated that Oil samples, sidewall cores and wire line logging all indicate the presence of high API oil in the best quality reservoir encountered in the South Lokichar Basin to date.

Additional prospectivity identified on the 3D seismic in the Etom Field area and in the northern portion of the basin, including the Erut and Elim prospects, will now be considered as part of the future exploration drilling program the company indicated.

Speaking on the issue, Africa Oil CEO Keith Hill said the well discovery enhances the companies presence in the Lokichar basin as it is a confirmation of investment opportunities than earlier estimated.

“This discovery confirms a new potential exploration fairway in the northern portion of the Lokichar Basin. This result will greatly aid us in adding critical resources for the basin development as well as enhancing the recently announced farm out deal with Maersk Oil,” stated Hill.

Africa Oil has a 50 per cent interest in Blocks 13T and 10BB with equal partner and operator Tullow Oil. Following the previously announced farm-out agreement, Africa Oil will have a 25 per cent interest in Blocks 13T and 10BB.

Five completed zones of the Ngamia-8 production well were tested separately at a cumulative rate of 2,400 bbl/d and all apart from the lowest zone produced without artificial lift. Communication between the producer well and an observation well, at a distance of around 500 metres, was also demonstrated.

 

Source : ugandaoil.co