Tuesday, August 14, 2012

Oando Makes OML 56 Discovery


Nigerian independent Oando Energy Resources Inc. (OER)saw positive initial results from drilling on OML 56. The company said that the EB-4 well, spud in March, was drilled to a total depth of 12,120 ft measured depth to appraise the updip portion of the structure.

During drilling eight new hydrocarbon bearing sands over an interval from 9,667 ft to 11,182 ft were encountered. Each of the eight had an individual reservoir thickness of between 21ft and 110 ft. These sands were in addition to the producing sand target previously encountered in the first well (EB-1).

"We continue to successfully advance our appraisal program in the Ebendo Marginal Field," said Olapade Durotoye, CEO of OER. "Next steps include further evaluating this positive data and further delineation of the discoveries to assess their size and productive capacity, which we expect to begin in Q4 2012."

The deepest of the newly appraised sands, contained in Level XXa, was perforated and tested. The well flowed over 950 bpd of 49° API oil during a well flow test on a 24/64" adjustable choke. Further well tests will be conducted over the next few days on the next sand (Level XIX). Level XIX was the primary target for the well, as it was the only identified producing sand from the single producing well in the field. These test results may not necessarily be indicative of the well's long-term performance or of ultimate recovery.

The company intends to complete the EB-4 well as a dual string producer prior to commencing drilling on the EB-5 well, which is intended to appraise the shallow hydrocarbon bearing sands encountered in EB-4.

OER has a 42.7 % non-operated interest in the Ebendo Marginal field.

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