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Eland Provides Opuama Operations Update

Source: www.gulfoilandgas.com 11/15/2017, Location: Africa

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Eland Oil & Gas PLC, an oil & gas production and development company operating in West Africa with an initial focus on Nigeria, is pleased to announce the following update on the Opuama-7 and Opuama-8 wells in licence OML 40.

Opuama-7 gross production on a 48/64" choke normalised at 7,500 bbls of oil per day (bopd). Production performance from Opuama field is strong, with gross production from all three wells being 19,000 bopd.

The drilling of the Opuama-8 infill well by the OES Teamwork Rig continues positively. The 16" hole has been drilled to target depth at 3564 ftMD/3390 ftTVD and the 13 3/8" casing has since been run. The rig is preparing to drill 12 " hole to target depth.

George Maxwell, CEO of Eland, commented:

"We are delighted to announce the higher than expected production rates from Opuama-7. This production from Opuama 7 combined with the production from the Opuama-1 and -3 wells has resulted in Opuama recording a record production, the highest in OML 40 history surpassing the previous high in December 1975.

Our focus on the Opuama-8 infill well and the near-term work programme continues and I look forward positively to updating the market further as we, together with our partner NPDC, achieve more success on the OML 40 license which is becoming one of the largest producing assets of any E&P company on AIM."

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