30th Jul 2018 12:41
LONDON (Alliance News) - West Africa-focused oil & gas company Savannah Petroleum PLC said Monday it has spud its fourth well in its Niger drilling campaign.
As with the other wells in this campaign, the fourth one, named Eridal-1, is designed to evaluate potential oil pay in the Eocene Sokor Alternances, the company said.
There is also a secondary target of potential oil pay in the Eocene Upper Sokor "being considered as upside", Savannah added.
Drilling of the well is expected to take 30 to 35 days, with the company hoping to drill to a depth of 2,592 metres.
Savannah Petroleum shares were trading down 2.5% at 8.92 pence each Monday.
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