Found something interesting... News OIL AND GAS Nigeria: MX Oil...

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OIL AND GAS
Nigeria: MX Oil announces recommencement of production from Aje-5 well

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  - Thursday, 24 August 2017 - 17:11

(Ecofin Agency) - MX Oil Plc has on Thursday announced the Aje-5 well, located within OML 113 in Nigeria, has resumed oil production with oil lifting having taken place in July. According to the company, the well recommenced production following a period of limited output caused by mechanical problems.

It should be recalled that Panoro Energy, a partner on the field, announced in its third quarter 2016 financial results and operational update that production from the Aje oil field continues to be restricted by the performance of the Aje-5 well which requires sub-surface intervention to repair a mechanical problem. The company had said that it is expected that the Aje field will be producing regularly at target rates of 7,000-9,000 barrels of oil per day once the Aje-5 well is successfully brought back on line.

The Aje gas and condensate field lies in Oil Mining Lease 113 (OML 113) in the Benin Basin, approximately 24km offshore western Nigeria. Yinka Folawiyo Petroleum (YFP) is the operator of OML 113 with a 60% interest. The remaining 40% is owned by a joint venture comprising Chevron Nigeria Deepwater, Vitol Exploration Nigeria, Panoro Energy, Energy Equity Resources and Jacka Resources.

MX Oil had been investing in OML 113 through Jacka Resources Nigeria, which is a subsidiary of Australian Securities Exchange-listed Jacka Resources Ltd. However, last year August, MX Oil said it had applied for an option to fully acquire Jacka Resources Nigeria and therefore the OML 113 block.

Source:
http://www.ecofinagency.com/oil-and...-recommencement-of-production-from-aje-5-well


Also check out MX Oil as there is some movement. Tide could be turning...