2nd Jan 2014 08:44
LONDON (Alliance News) - Ophir Energy PLC said Thursday it has concluded its drilling operations on the Mlinzi Mbali-1 well in Block 7 in Tanzania.
Mlinzi Mbali-1 is the first well on Block 7 and targeted a structural crest within a Lower Cretaceous channel complex, with secondary targets in the Upper Cretaceous and the Jurassic. The well was located around 210km east of Dar es Salaam and was drilled by the Deepsea Metro I drillship.
Ophir said the Cretaceous targets were intersected and are interpreted to be water bearing. The well was completed ahead of time and budget.
Ophir hold an 80% interest in the site. The Block 7 site is held and operated by Dominion Tanzania Ltd, a wholly owned subsidiary of Ophir.
The Deepsea Metro I drillship will now be released to BG Group to drill an exploration well in Kenya before returning to Tanzania where wells are planned on Block 1 and on Ophir's operated East Pande Block during the first half of 2014.
Nick Cooper, CEO said, "Mlinzi Mbali-1 was the first of a series of high impact, high risk wells that will be drilled by Ophir through 2014. This frontier well disappointingly did not encounter live hydrocarbons, however it is the deepest stratigraphic test offshore Tanzania and will provide crucial information that will be integrated into our interpretation of the potential of Block 7 and the wider deepwater basins of Tanzania"
Shares in the Africa-focused upstream oil and gas exploration company dropped during morning trading, the stock sits at the bottom of the FTSE 250, down 6.83% at 305.4 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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