Thursday, June 24, 2010

Total, Conoil Exploration Well Finds Gas Offshore Nigeria

PARIS (Dow Jones)--French oil and gas major Total SA (TOT) said Thursday that an exploratory well on an offshore permit it shares with Conoil PLC's (Conoil.LA) Conoil Producing Ltd. has discovered hydrocarbons in the central portion of the Oil Mining Lease OML 136, offshore western Nigeria.

The Agge-3B.T1 well is located in a water depth of 140 meters, and encountered several gas bearing reservoirs totaling a gross thickness of more than 150 meters.

A production test yielded 21 million cubic feet of gas a day.

Total's local unit Total Exploration & Production Nigeria Ltd. has a 40% interest in the permit, and Conoil, the operator, has the remainder.

-By David Pearson, Dow Jones Newswires; +331 4017 1740,

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