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Operator of Block 1101 onshore Madagascar Afren plc \u00a0has announce the completion of its drilling and coring operations and the discovery of oil in two boreholes drilled on the block.<\/p>\n
According to a statement from the company a total of four strategic locations on Block 1101, which measures some 11,200 km\u00b2, were successfully drilled and cored to an aggregate depth of 2,000m with\u00a0approximately\u00a01,760m of core samples recovered.<\/p>\n
Afren adds that the drilling at each of the locations successfully completed the respective technical objectives to assess specific aspects of the Block’s petroleum systems.<\/p>\n
Two core holes were drilled to depths of 650m and 500m adjacent to the 1902 coal borehole (Ankaramy-1) which had reportedly encountered “hydrocarbon shows”.<\/p>\n
Cores recovered from both locations indicated the presence of hydrocarbons and potentially good reservoir quality over multiple zones.<\/p>\n
Early indications provide further evidence of at least three different source rocks working across the Block in Triassic, Jurassic and Cretaceous zones.<\/p>\n
According to Interim Chief Executive of Afren Toby Hayward the company continues to examine earlier\u00a0discoveries to determine their commerciality<\/p>\n
“We have made good progress on Block 1101 with encouraging results indicating the presence of oil over several zones.\u00a0 This underscores the high quality of our East African portfolio and we look forward to working with our partner (Oyster Oil and Gas Limited) to determine the nature and extent of the discovery,” he said.<\/p>\n
Oyster Oil and Gas adds that both companies are planning on drilling a large exploration prospect next year.<\/p>\n
“These are encouraging results indicating the presence of hydrocarbons over several zones, reaffirming the oil potential of Block 1101. The joint venture has been working closely together to define and develop the exploration program for Block 1101, and we are looking forward to working with Afren on the drilling of a large exploration prospect which is planned for 2015,” said Oyster Oil and Gas President and CEO Michael Wood.<\/p>\n
A further detailed analysis of the cores will be undertaken in Q1 2015 to confirm the nature and extent of the hydrocarbons.<\/p>\n
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