PA Resources Announces Spudding of well on block I in Equatorial Guinea

Source: www.gulfoilandgas.com 4/18/2008, Location: Africa

The drilling of an appraisal well has commenced on the Benita discovery located in Block I in Equatorial Guinea. The oil and gas group PA Resources has a 6 percent working interest in the license. The technical operator Noble Energy has spudded the appraisal well I-5 on Block I with the drilling rig Sedco 700. The well will appraise the extent of the oil and gas discovery made by the wells I-1 and I-2 earlier drilled on the Benita structure.

This is the first well that is being drilled by the Sedco 700 as part of a two well program in Block I during the second quarter of 2008.

PA Resources has a 6 percent working interest in Block I, through its fully owned subsidiary Osborne Resources. Operator is Noble Energy (40 percent) and the other partners are Atlas Petroleum International (29 percent) and Glencore (25 percent).


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