Anadarko Announces Successful Appraisal Well Offshore Ghana

Source: www.gulfoilandgas.com 12/11/2008, Location: Africa

Anadarko Petroleum Corporation today announced another successful appraisal well in the Jubilee field offshore Ghana. The Hyedua-2 well encountered a gross reservoir interval of more than 390 feet, containing approximately 180 feet of high-quality hydrocarbon-bearing, stacked reservoir sandstones and confirms the northwestern extension of the Jubilee field. The Hyedua-2 well is located in 4,090 feet of water, approximately 2.5 miles northwest of the original Mahogany-1 discovery well and approximately three miles north of the successful Hyedua-1 exploration well.

"This well validates our understanding of the regional geology and seismic interpretation and generates strong confidence in our growing program in the Cretaceous margin offshore West Africa," Anadarko Chairman and CEO Jim Hackett said. "With five consecutive successful wells on the blocks, we are very pleased with our drilling results in the Jubilee field and the significant potential of this area. The partnership expects to be active in the area in 2009 and anticipates drilling development, appraisal and at least three additional high-impact exploration wells, including Tweneboa, Teak and Onyina. The Tweneboa prospect is expected to spud in the first quarter and is similar in size and reservoir characteristics to the Jubilee field."

The partnership also is currently drilling the Mahogany-3 exploration/appraisal well, located approximately 3.3 miles southeast of the Mahogany-1 discovery well in the West Cape Three Points Block. The Mahogany-3 well is targeting an extension of the Jubilee field as well as testing a deeper exploration objective. Once the well is complete, the partnership expects to provide an update to Jubilee's current estimated resource range of 500 million to 1.8 billion barrels.

Anadarko holds a 30.875-percent interest in the West Cape Three Points Block. Kosmos Energy is the block operator and also holds a 30.875-percent interest. Other partners include Tullow (22.896 percent), Sabre (1.854 percent), The E.O. Group, a Ghanaian oil and gas company, (3.5 percent) and the Ghana National Petroleum Corporation (10-percent carried interest).


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