Anadarko Announces Another Discovery Offshore West Africa

Source: www.gulfoilandgas.com 8/22/2007, Location: Africa

Anadarko Petroleum Corporation announced its second oil discovery offshore the Republic of Ghana. The Hyedua-1 well is located on the Deepwater Tano license in approximately 5,020 feet of water, 3.3 miles southwest and down dip from the Mahogany-1 discovery well, which Anadarko announced in June 2007. The Hyedua-1 well was drilled to a total depth of approximately 13,130 feet and encountered approximately 130 feet of net pay in a Cretaceous sandstone reservoir.

"The results of the Hyedua-1 well and our 2007 drilling program in the deep waters offshore Ghana are very encouraging," said Bob Daniels, Anadarko's Senior Vice President, Worldwide Exploration. "The two discoveries indicate the presence of a large structure that extends across the West Cape Three Points Block and onto the Deepwater Tano license with a combined gross hydrocarbon column of nearly 1,200 feet. Based on the commercial potential of the area, the partnership continues to work in close cooperation with the Republic of Ghana and is making arrangements to bring another rig to the region to begin a rapid appraisal program in the fourth quarter."

Anadarko is the technical operator of the Hyedua-1 well with an 18-percent interest. Tullow Ghana Limited, an affiliate of Tullow Oil plc, is the operator of the block with a 49.95-percent interest. Other partners include Kosmos Energy Ghana HC with an 18-percent interest, and Sabre Oil and Gas Limited with a 4.05-percent interest. The Ghana National Petroleum Corporation will be carried through the exploration and development phases with a 10-percent interest.

The Hyedua-1 and Mahogany-1 wells were drilled using the "Belford Dolphin" deepwater drillship, which is under long-term contract to Anadarko. After the Hyedua-1 well is sidetracked to obtain additional core data, the drillship will move to the Gulf of Mexico to test additional prospects in Anadarko's 2007 exploration program.


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