Oyster Oil and Gas has announced it has been advised by the Operator of Block 1101, onshore Madagascar, Afren PLC that a contract for a multi-well drilling program has been awarded to UK based ALS Oil & Gas Group.
The drilling contract will include the twinning of a reported 1902 “discovery, which was the last well to be drilled on the block.
According to Oyster the program is designed to achieve a number of objectives including the recovery of some 2,000m (6,500ft) of core samples.
The Program is scheduled to commence in late August 2014.
Oyster holds a 10% working interest in Block 1101.
Michael Wood, President and CEO commented: “Oyster is excited about the hydrocarbon potential of Block 1101. Several exploration targets have been mapped with mean resource volumes estimated to be greater than 2.2 Billion bbls recoverable (un-risked). The joint venture has been working closely together to define and develop the exploration program for Block 1101 which will include the drilling of a world-class exploration prospect in 2015; the 2014 drilling and coring work forms an integral part of the Block 1101 exploration strategy.
Oyster which has a focus on Eastern Africa holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar.
In Djibouti Oyster holds four blocks comprising approximately 3.5 million acres onshore and offshore in Djibouti; and holds a working interest in an onshore block in Madagascar covering approximately 2.8 million acres.