Panoro Energy announces that the DHBSM-2P pilot well has successfully encountered oil and confirmed a north-eastern extension of the Hibiscus South field at the Dussafu Marin Permit offshore Gabon, further increasing recoverable reserves.\u00a0\u00a0Panoro holds a 17.5 per cent participating interest in the Dussafu Marin Permit.<\/p>\n\n\n\n
The DHBSM-2P pilot well was drilled with the Borr Norve jack-up rig to test a north-eastern extension of the Hibiscus South field.\u00a0\u00a0The well was drilled to a depth of 5,130 metres with evaluation of logging, sample and pressure data confirming approximately 25 metres of net oil pay in an overall column of 35 metres in the regionally prolific Gamba formation. Preliminary volume estimates comprise gross recoverable reserves of five to six million barrels of oil and approximately 14 million barrels of oil in place.\u00a0\u00a0The partners plan to complete the well as a producer later in 2024.<\/p>\n\n\n\n