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Maurel & Prom Provide Exploration Update in Africa

Source: www.gulfoilandgas.com 9/21/2006, Location: Africa

Congo:The Loufika 1D ST exploration well, located within the Kouilou exploration permit area (M&P 65%, operator) 35 km South-East of the M’Boundi field, discovered, 551 m deep,some 100- m thick sandstone reservoirs, the top 50 m of which are impregnated. The first tests on a part of the impregnated reservoir produced 380 b/d of an anhydrous oil at 26° API pumping. The association is planning to drill several wells in order to assess the accumulation shown by Loufika 1D ST.

This discovery of a new play that can be developed across all the permits of the Congolese coastal basin (Kouilou, La Noumbi) was made in the upper pre-salt-bearing formations. Additional work on these two permits will begin to explore this play. Loufika Deep A new exploration well with the conventional Vandji as its objective, Loufika Deep, will start in a few days.

Furthermore, Maurel & Prom, the M'Boundi field operator, confirms that well 2002 was suspended at a drilled depth of 2 797 m. Drilling is planned to resume at a later date in order to reach the initial objective. As per today, the M'Boundi field maintains its production at a level of 55 000 b/d

Gabon:The last assessment well (ONAL 7D) was drilled to a depth of 400 m South-East of ONAL6 at the limit of the seismic coverage. Drilled in 12 days, it found 121 m of reservoir of which 108.8 m were perforated. The production tests on a 32/64 choke produced 600 b/d of a 32° API anhydrous oil, similar to that already found by the previous wells.

After the ONAL1 and ONAL2 exploration wells, drilled in 1991 by Conoco and showing the presence of oil but not indicating the extent of the field, Maurel & Prom drilled, at the beginning of 2006, five assessment wells, OZO1 (proving the extent of the reservoir), ONAL3 (600 b/d), ONAL5 (950 b/d) and ONAL6 (1 000 b/d); only ONAL4 gave no oil result. The seismic campaign (2D) designed to ascertain the structure of ONAL and explore the whole permit began in mid-August. The aeromagnetic reconnaissance campaign will be run during the last quarter.

On September 11, 2006, Maurel & Prom submitted to Gabon Authorities all the relevant information so that they can make a decison on the commercially exploitable character of this field.

Maurel & Prom is planning to put the ONAL field into production at the end of 2007. To take advantage of the 2006 dry season, reconnaissance of the route followed by the outgoing pipeline has been carried out.

Tanzania:Maurel & Prom announces that the first Tanzanian exploration well is being drilled. This began on September 9, 2006 and to date has reached a depth of 360 m with a final objective of 3 200 m.

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