27th Nov 2013 11:57
LONDON (Alliance News) - Ophir Energy PLC Wednesday said that drilling operations have begun at its Mlinzi Mbali-1 well in its Block 7 space in Tanzania.
The FTSE 250-listed gas exploration company operating in Africa said the 80%-owned well is targeting two key areas and estimates show that two primary channel reservoirs have the potential to contain prospective resources of around 10 trillion cubic feet of gas.
Ophir said that success on the well would significantly de-risk the whole area, which is estimated to hold upwards of 20 trillion cubic feet of gas.
The company said that it will drill to a total depth of 5,650 metres sub sea and operations are expected to take roughly 50 days.
Ophir energy shares were down 0.5% to 345.40 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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