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AGOCO Has New wildcat onshore Discovery

Source: www.gulfoilandgas.com 8/30/2009, Location: Africa

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NOC announced on Sunday 30/8/2009 that Arabian Gulf Oil Company, a wholly owned by NOC reports that it has drilled the B1-NC4 New Field Wildcat well to a total depth of 10,500 feet. The well is located in Ghadames Basin approximately 190 km south of Tripoli.

The initial production testing from Lower Akakus Formation established an oil flow as follows:

- The initial production testing from the B1-NC4 well on Lower Acacus Formation tested 13 feet of hydrocarbon net pay at an interval of between 8748 and 8754 feet and between 8775 and 8768 feet at a rate of 1887 bbls/d of oil and 0.6 MMCF/D of gas on a 32/64 inch choke. The tested oil gravity was 41 degrees API.

-The initial production testing on Lower Acacus Formation tested 15 feet of hydrocarbon net pay at an interval of between 8515 and 8519 feet, and between 8531 and 8542 feet at a rate of 2125 bbls/d of oil and 0.76 MMCF/D of gas on a 32/64 inch choke. The tested oil gravity was 40 degrees API.

- The initial production testing on Mamouniyat Formation tested 15 feet of hydrocarbon net pay at an interval of between 10062 and 10082 feet at a rate of 600 bbls/d cond. and 4.8 MMCF/D of gas on a 32/64 inch choke. The tested oil gravity was 55 degrees API.

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