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Exile Announces Successful Appraisal Akepo Field

Source: www.gulfoilandgas.com 1/7/2010, Location: Africa

Exile Resources Inc. announced results of the well test and completion of the Akepo-1 ST discovery (with its partners Sogenal Ltd (Oil and Gas Company) the operator and Oando Exploration and Production Limited).

The drilling rig, Noble Lloyd Noble was demobilized on the 5th of January 2010 after a 50-day well testing and completion program on the Akepo field. Drill Stem Tests (DST) proved flowing hydrocarbons in all the three-targeted reservoirs. The lowermost D6 sand tested at 1200 barrels of 43 degree API oil per day through a 20/64-inch choke, with low Gas Oil ratio (GOR). The D1 sand tested at 1170 barrels oil per day of 23 degree API oil through a 20/64-inch choke with low GOR, and the C1 sand tested at 570 barrels oil per day of 20 degree API oil through 20/64 inch choke with low GOR.

The Akepo-1 ST was completed as a two-string multiple completion to produce on two strings from two of the three zones, with the third zone selective on one of the strings. Following the completion, the Akepo-1 ST was successfully flow tested from the D6 sand at 1789 barrels oil per day with good flowing wellhead pressures.

There was insufficient tank capacity available to further test the D1 or C1 sands, but it is anticipated that the well will produce between 2,500 and 3,000 barrels of oil per day from two of the three zones. With the success of the well test and completion, the partnership will now move expeditiously towards first oil in the first half of 2010.

Mr. Tony Henshaw, President and CEO of Exile, commented, “We are more than satisfied with the appraisalresults and look forward to working with the partnership to bring the Akepo field onstream this year.”

Zambian License
Exile also reported that detailed application documents to finalise the exploration block licence award with the Zambian government officials is underway. Further to which, CEO Henshaw is planning to travel to Zambia in mid-February.

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