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FirstAfrica Completes Drilling of EOV-4 Well

Source: www.gulfoilandgas.com 2/28/2006, Location: Africa

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FirstAfrica Oil plc announced the completion of the East Orovinyare -4 (EOV-4) appraisal/development well in offshore. Using the Adriatic IX jack-up rig, and operated by First Africa Oil’s wholly owned subsidiary GGPC, the principal objective of the well was to appraise the eastern flank of the East Orovinyare structure. The well encountered the Batanga Sandstone reservoir at the expected depth, confirming the structural interpretation. An oil column of 165 ft (128 ft forecast) was encountered.

Unexpected oil shows were encountered within the deeper Anguille Formation which was not an objective of this well. These oil shows will be further evaluated.

Drill Stem Testing of the Batanga reservoir recovered oil with API Gravity of 37.5 degrees. Mechanical difficulties prevented oil flows from being achieved. These difficulties were specific to this well and are not expected to recur in subsequent drilling.

EOV-4 has been temporarily suspended with the Adriatic IX rig moving to another contract. Full analysis of the reservoir and test data for EOV-4 and the crude sample recovered is under way and results will be announced in due course. Drilling on the field will re-commence with the arrival of the Adriatic VI jack-up rig in Spring 2006.

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