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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.<\/p>\n
The drilling contract will include the twinning of a reported 1902 “discovery, which was the last well to be drilled on the block.<\/p>\n
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.<\/p>\n
The Program is scheduled to commence in late August 2014.<\/p>\n
Oyster holds a 10% working interest in Block 1101.<\/p>\n
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.<\/p>\n
Oyster which has a focus on Eastern Africa holds production sharing contracts interests with the Government of Djibouti and the Government of Madagascar.<\/p>\n
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.<\/p>\n
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