Ophir announce Kamba gas discovery and Tanzania operations update

Ophir announce Kamba gas discovery and Tanzania operations update

Ophir Energy plc (“Ophir” or “the Company”) announced the Kamba-1 discovery and an update on its drilling programme in Tanzania.
Block 4: Kamba-1(& 1ST) gas discoveries
The Kamba-1 well in Block 4 has resulted in gas discoveries of 1.03TCF in the Kamba and Fulusi prospects. BG operates the Block 4 licence and Ophir holds a 20% interest.
The well was drilled by the Deepsea Metro I drillship in a water depth of 1,379m to a total depth of 3,969m with the twin objectives of intersecting the Paleocene-aged Fulusi prospect (a northern extension of the earlier Pweza discovery) and the primary target of the Cretaceous-aged Kamba prospect.
The Kamba-1 well encountered an 18m gross gas column in the Fulusi prospect and, after sidetracking to test the Kamba prospect, the Kamba-1ST well established another gas column of 140m with high net to gross, good quality, reservoir sands. The well has encountered better quality reservoir sands than prognosed pre-drill and further analysis is expected to confirm discovered volumes somewhat in excess of the pre-drill estimated mean (2C) recoverable resources of 1.03TCF, comprised of 650bcf in Kamba and 380bcf in Fulusi.
The Kamba-1 discovery is the Joint Venture’s 16th consecutive discovery well in Blocks 1, 3 and 4. This discovery, plus recent volume updates on the earlier discoveries, increases Ophir’s estimate of the total Block 1, 3 and 4 mean (2C) recoverable resource to 17.1TCF. The Kamba-1 result provides critical mass for an LNG train to be supplied from the fields in Block 4 and also takes the overall resource volume to the threshold for a future potential third LNG train to be from Blocks 1 and 4.
The Kamba-1 well represents the Joint Venture’s final well in this current drilling campaign. The Deepsea Metro I drillship will remain in Tanzania and now moves to drill two operated wells for Ophir in the East Pande and Block 7 PSCs.
East Pande licence: Tende-1 well spud
Ophir will imminently spud the Tende-1 well on the East Pande licence. Ophir operates the East Pande licence and holds a 70% interest, the East Pande PSC is located between the coast and the significant gas discoveries in Blocks 1 and 2.The Tende-1 well is on trend with the recent Taachui-1 discovery in Block 1 at a water depth of 680m and will be drilled to a planned total depth of 4,200m. The well is targeting gas in a lower Cretaceous sandstone reservoir with a mean prospective resource estimate of 2.38TCF at a 15% chance of success. Drilling operations are expected to take approximately 35 days.
Block 7: Mkuki-1 well confirmed
Ophir has added one additional well to its 2014 drilling programme in Tanzania. After completing the Tende-1 well, the Deepsea Metro I rig will move to Block 7 to drill the Mkuki-1 well. Ophir has an 80% operated interest in the Block 7 PSC, which is located to the north of the significant gas discoveries in Blocks 1, 2, 3 and 4. Mkuki-1 will be located in the western, inboard portion of the block, in a water depth of 1,655m and has a planned total depth of 3,200m. The well is targeting gas in a Tertiary clastic reservoir with a mean prospective resource estimate of 2.19TCF at a 13% chance of success. Drilling operations are expected to take approximately 20 days.
Block 3: Operatorship
Ophir and Pavilion Energy have committed to move into the next exploration phase on Block 3. BG Group has decided to withdraw from Block 3. Ophir has, under the terms of the PSC, applied to enter the next PSC term under which the Company will hold an 80% interest and will formally re-assume operatorship from October 2014, while Pavilion Energy will retain 20%; the application is subject to Government approval. The 2012 Papa-1 gas discovery is the only well to have been drilled in Block 3 to date. The existing equity holdings on Block 1 and Block 4 remain as before as they also enter the next PSC terms.
Nick Cooper, CEO, commented: “The Kamba discovery has now confirmed sufficient aggregate resource in Block 4 to supply one 5MMTPA train of LNG. In combination with the discovered resource in Block 1, the Block 1 and 4 Joint Venture is now close to the threshold resource volumes for three 5MMTPA LNG trains. Ophir is the most active explorer in Tanzania in 2014 and the drilling programme continues with the first of two operated exploration wells in the East Pande and then the Block 7 PSCs. We are also pleased to re-assume operatorship of Block 3 to explore the potential of further upside.”
Source: Ophir Energy plc
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