Cove Energy Golfinho well finds major new gas discovery area offshore Mozambique

Cove Energy Golfinho well finds major new gas discovery area offshore Mozambique

Cove Energy plc (“the Company” or “Cove”, AIM:COV), the AIM quoted upstream oil and gas company, together with the operator Anadarko Petroleum Corporation, is delighted to announce that the Golfinho exploration well has discovered a new, major natural gas accumulation nearly 20 miles (32 kilometers) northwest of the Prosperidade complex within the Rovuma Basin Area 1 block, Offshore Mozambique (“Area 1 Rovuma Offshore”).Highlights:
• Golfinho exploration well encounters separate and independent gas accumulation entirely in Area 1:– 20 miles (32 kilometers) northwest of the Prosperidade complex
– Only 10 miles (16 kilometers) offshore from planned onshore development facilities providing potential advantages for future development options
• Significant uplift in Area 1 Rovuma Offshore gas resources – Operator Anadarko estimates that the Golfinho area holds between 13 and 45 TCF of gas in place and adds 7 to 20+ TCF in recoverable gas resources, in addition to the existing Prosperidade recoverable gas resource of 17 to 30+ TCF
• Well penetrated 193 net feet (59 net meters) of Natural Gas Pay encountered in two high-quality Oligocene fan systems:– Age-equivalent to, but geologically distinct from, the previous discoveries in the Prosperidade complex
• Drilling to begin at the Atum-1 exploration well once operations completed at Golfinho
• Gas Tested at circa 100mmscf/d from upper layer in Barquentine 1The Golfinho exploration well was drilled to a total depth of approximately 14,885 feet (4,537 meters), in water depths of approximately 3,370 feet (1,027 meters). Once operations are complete at Golfinho, the partnership plans to mobilise the Belford Dolphin drillship to drill the.
Atum-1 exploration well.
Source: Cove Energy
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