Gulf Oil and Gas accountACCOUNT

Addax Petroleum Announces Cameroon Exploration Results

Source: www.gulfoilandgas.com 7/4/2008, Location: Africa

Addax Petroleum Corporation announced the initial results of its Cameroon exploration campaign where the Corporation has recently completed drilling its first exploration wells in the Ngosso and Iroko license areas. As part of the campaign, Addax Petroleum drilled two wells plus a sidetrack at Ngosso and one well at Iroko.

The sidetrack drilled as part of the Ngosso drilling campaign established a gross hydrocarbon column of 79 feet while the two Ngosso exploration wells were plugged and abandoned as dry holes. The Corporation believes the sidetrack discovery may be developed in the future together with existing oil discoveries in an overall field development. The Iroko well encountered hydrocarbons in the main objective interval and the Corporation is currently evaluating core, pressure and wireline data obtained during the drilling of the well.

Commenting, Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum said: "While the initial results of the Cameroon exploration campaign were less encouraging than anticipated, we will continue exploration activities on the license areas where there still exist several quality prospects. Addax Petroleumís exciting 2008 exploration campaign continues this quarter with the drilling of the Charlie prospect in the Iris Marin license area offshore Gabon as well as the Taq Taq Deep exploration well in the Kurdistan Region of Iraq. In total, Addax Petroleum will be drilling up to 25 exploration and appraisal wells in 2008 in every major area of its property portfolio.Ē

At Ngosso, the Odiong and Tali prospects on the south-west part of the license area were drilled to depths of 1,680 metres and 2,900 metres, respectively. The sidetrack at Tali encountered a gross hydrocarbon column of 79 feet comprising 62 feet of oil overlain by 17 feet of gas, confirming the Tali accumulation. The Corporation has completed its work commitment for the current period with the drilling of the two Ngosso wells. The Corporation plans to enter the next exploration period, including a commitment to drill one exploration well, and to acquire additional 3D seismic data on the prospective northern part of the license area in the late 2008 and early 2009.

The Iroko prospect on the east part of the Iroko license area was drilled to a total depth of 1,120 metres. The results of the core, pressure and wireline data are currently under evaluation by the Corporation and are necessary before determining the future drilling plans for the license area.

The drilling rig contracted by Addax Petroleum for the Cameroon exploration campaign is currently moving to the Iris Marin license area, offshore Gabon, where it will drill Addax Petroleumís first exploration well at Iris Marin.

Drilling News in Cameroon >>

Australia >>  3/25/2019 - Jadestone Energy Inc., an independent oil and gas production company focused on the Asia Pacific region, provides an update on its infill drilling pro...
Australia >>  3/25/2019 - Galilee Energy has provided an update on the upcoming drilling operations at its 100% owned and operated Glenaras multi-lateral pilot programme locate...

Iraq >>  3/25/2019 - Global drilling and engineering contractor KCA Deutag has been awarded $54M of new contracts on the back of strong tendering activity in its land dril...
United Kingdom >>  3/22/2019 - Island Drilling Company has been awarded a contract with CNOOC Petroleum Europe, a wholly-owned subsidiary of CNOOC Ltd, to drill one well on the Howi...

Botswana >>  3/18/2019 - Tlou Energy, the ASX, AIM and BSE listed company focused on delivering power in Botswana and southern Africa through the development of coal bed metha...
Egypt >>  3/14/2019 - Eni announces a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptia...

Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Cameroon Oil & Gas 1 >>  2 | 3 |

Oil & Gas Projects in Cameroon >>

More News

Related Links

AO BJ BW CD CG CI CM DZ EG EH ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.