27th Mar 2006 11:27
Afren PLC27 March 2006 Afren PLC Response to media speculation Afren (AIM:AFR) notes recent media speculation regarding the drilling of theObo-1 well in Block 1 of the Nigeria Sao Tome and Principe Joint DevelopmentZone ("JDZ"). On 23 January 2006, Afren announced that Chevron, the Operator ofBlock 1 had confirmed that it had commenced drilling of the first explorationwell on this license on 14 January 2006 and that it should be completed inapproximately 60 days. Initial drilling of the well has been completed and theresults are currently being evaluated. The results of this well will not beknown until the Operator has completed its evaluation and authorised the releaseof further information. 27 March 2006 Enquiries: Afren +44 20 7182 1800Brian O'CathainOsman Shahenshah Pelham Public Relations +44 20 7743 6673James HendersonAlisdair Haythornthwaite Editors' Notes: The JDZ Block-1 is located approximately 190 miles (300 kilometers) north of thecity of Sao Tome and approximately 125 miles (200 kilometers) from the cityof Port Harcourt in Nigeria. Chevron JDZ Limited has a 51 % equity share in theblock, ExxonMobil holds 40% equity, and Dangote Energy Equity Resources Limitedholds the remaining 9% equity. Afren plc is the beneficial owner of 49% of theequity in Dangote Energy Equity Resources Limited, through its wholly ownedsubsidiary Energy Equity Resources A.S. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AFR.L