Ophir Energy announces Successful Mzia-3 appraisal

Ophir Energy announces Successful Mzia-3 appraisal

Ophir Energy plc (“Ophir” or “the Company”) announces further successful appraisal of the Mzia discovery in Block 1, Tanzania. Ophir holds 40% of Blocks 1, 3 and 4. BG Group operates with 60%.

The Mzia-3 appraisal well was drilled approximately 6km north of the original Mzia-1 discovery well and targeted the main Lower sands that comprise the majority of the resource in the field and upside in the Middle sand package that was encountered in the Mzia-1 well. The well encountered 56m of net pay combined in the Lower and Middle sands and has confirmed reservoir quality in-line with that seen in the Mzia-1 and Mzia-2 wells.

In addition, the gas down to level proven in Mzia-3 is 107m deeper than that seen in the previous wells, leading to an increase in discovered resource estimates. Provisional interpretation of the Mzia-3 result has increased the overall mean contingent recoverable resource for the Mzia discovery by c.0.7 TCF to c.5.2 TCF. Well completion operations are currently ongoing.

Nick Cooper, CEO, commented:

“The Mzia-3 result is another positive appraisal well on our discoveries in Blocks 1, 3 and 4 and confirms Mzia as an anchor asset in the planned LNG development. Total discovered resources are now comfortably in excess of that needed for two trains of LNG and demonstrate the potential for further long-term growth of the project.”

Source: ophir-energy.com

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