Savannah announces third oil discovery in Agadem Rift Basin

Niger deltaThe company aims to expand its service portfolio across the continent. (Image source: Chovee/Flickr)Savannah Petroleum PLC, Africa-focused oil and gas company, has announced to make third oil discovery in Niger drilling campaign

Kunama-1 is the third consecutive discovery Savannah has made in its maiden exploration campaign in the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin (ARB), South East Niger

Well Result

Preliminary results based on the interpretation of the available data set (which includes wireline logs, fluid sampling and pressure data) indicate that the well has encountered a total estimated nine-metre of net oil-bearing reservoir sandstones in the E1 and E5 reservoir units within the primary Eocene Sokor Alternances objective.

Drilling Performance

The well was drilled by the GW 215 Rig to a total measured depth of 2,460 meters and took a total of 14 days to reach target depth, and all operations are expected to be completed within 23 days of spud. This compares with a pre-drill expectation of 22 days to reach target depth and 30-35 days to complete all drilling operations. No significant geological or drilling hazards were encountered.

Next Steps, Exercise of Drilling Rig Option and Eridal-1

Kunama-1 is currently being suspended for future re-entry. Consistent with standard industry practice in the ARB, a production test is expected to be performed on the well as part of a batch campaign using a dedicated test rig. This extended well testing programme is currently being planned for later in the year and the Company intends to provide further details in due course.

Following testing, a downhole completion assembly to Amdigh-1 is expected to be installed so as to enable the well to function as a production well in the future. Savannah does not expect to provide a discovered resource and volumes report until its expected well test programme has been completed.

Following the successful results of the three exploration wells drilled to date on the R3 East area, Savannah has elected to exercise the first of the six individual options under its contract with Great Wall Drilling Company Niger SARL. The GW 215 rig will now mobilise to the Eridal-1 well site, located on the R3 portion of the R3/R4 PSC Area 6km from Amdigh-1, where it will prepare to spud the Eridal-1 exploration well.

Eridal-1

The Eridal-1 well site preparation is in the final stages of completion and is on schedule to accept the rig following demobilisation from the Kunama-1 well site. The move is anticipated to take between 10-15 days, and the Company will provide an update upon spud of the well.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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