Friday October 8, 2:31 PM
Premier Oil: Mauritania Wells In Line With Forecasts -3-
Edited Press Release
ROC Oil Company Limited said that Woodside Mauritania Pty Ltd, a wholly-owned subsidiary of Woodside Petroleum Ltd., Friday reports on activity offshore Mauritania since the last report issued on 5 October 2004.
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Woodside Mauritania said that with the Tiof-3 Appraisal well evaluation of logs acquired while drilling and wireline logging operations, including fluid sampling and downhole pressure measurements, has established that the well intersected a gross oil column of 134 metres, containing several individual sands of variable thickness. The result was in line with pre-drill expectations.
Woodside said that the current operation is preparing to sidetrack, core and test the well as planned.
Woodside Mauritania said that the Tevet-1 Exploration well evaluation of wireline logs, including fluid sampling and downhole pressure measurements, has established that the well intersected a gross gas column of approximately 70 million above a gross oil column of approximately 44 million.
The well was drilled at a location to intersect the predicted fluid contacts. The top reservoir, gas-oil contact and oil-water contact were encountered at their predicted pre-drill depths.
The Tevet-1 discovery is located within tie-back distance to the Chinguetti field which is currently being developed. The current operation was plugging and abandoning the well as planned.
John Doran, Chief Executive Officer of ROC commented that: "ROC considers this to be an excellent start to the Mauritanian drilling campaign. However, the Company recognises that it is easy to be encouraged whenever you encounter thick gross hydrocarbon columns. Until the Joint Venture has finalised its evaluation of net oil pay in the Tiof-3 and Tevet-1 wells and acquired more subsurface data from both fields, it would be premature to draw any commercial conclusions."
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