Carla South Sidetrack Finds Oil in Block I

Source: www.gulfoilandgas.com 5/20/2013, Location: Africa

The Carla South I-7 ST-1 sidetrack to the I-7 exploration well in Block I has encountered oil in good quality sandstones. The sidetrack in Block I in Equatorial Guinea has reached a total measured depth of 3,460m. Drill cuttings, wireline log data and downhole measurements indicate that the sidetrack encountered an aggregate of approximately 9-11m of net oil pay in good quality sandstones at several levels. The well is now being plugged and abandoned. PA Resources holds a 5.7% interest in Block I.

PA Resources CEO, Dr. Phillipe Probst, commented: "The initial Carla South discovery which was announced on 2nd May 2013 extended the proven Carla trend from Block O into Block I. This deliberate sidetrack to that discovery has proven additional oil pay at several levels on the Carla trend. It is encouraging to have encountered oil pay but further analysis of the data will be required to assess the implications of these results and the way forward. The 2013 drilling programme in Block I will continue with an appraisal well and long term test on the Diega field later in 2013".

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