Griffiths Energy International Inc, a privately held energy company, is pleased to announce that a wholly-owned subsidiary of Griffiths has entered into a production sharing contract ("PSC") with the Government of Chad for the DOH (N'Donambo) block.
The newly acquired block has, in the opinion of management, the potential to contain resources and commercially viable undeveloped oil reserves. Currently, prospects have been identified by management on 2D seismic. To date, only one well, N'Donambo-1, has been drilled by a prior operator in the DOH block. The N'Donambo-1 well identified approximately 119 feet of net oil pay in the Cretaceous B, C and D sands but was not tested by the previous operator. The block covers approximately 826 km2 in Southern Chad within the Doba basin and is prospective for light crude oil.
Mr. Gary Guidry, President and Chief Executive Officer of Griffiths said "We are delighted to have secured the additional block through a competitive process and increase our investment in the Republic of Chad. A third party reserve engineering firm has been engaged to evaluate the Company's interests in the new DOH block. The DOH asset compliments the Company's portfolio of exploration and development assets in the Republic of Chad."
