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Eland Oil & Gas Provides Opuama-9 Update

Source: www.gulfoilandgas.com 5/16/2018, 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-9 well in licence OML 40.

Following the Company's announcement on 18 April 2018, the OES Teamwork rig reached initial target depth of approximately 9,000 feet at the end of April. The 12 ¼" hole section has now been cased off, securing the targeted D1000 and D2000 reservoirs.

Total net pay in the D1000 and D2000 reservoirs is approximately 28feet and 35feet Total Vertical Depth Subsea (TVDSS) respectively. The Company plans to perforate 30feet in the D1000 and 32feet in the D2000, along hole length. Following this the Company expects the well to perform at the high-end of previous production guidance of 4,000 - 6,000bopd (1,800 - 2,700 net to Elcrest).

The well is now being deepened to appraise the oil-water-contact in the E2000 reservoir in order to establish the best future horizontal drilling target for this reservoir. It is expected that the well will be completed by the end of May.

George Maxwell, CEO of Eland, commented:
"We are again very encouraged by the subsurface results we are seeing from another Opuama infill well. Log results lead us to believe that our short-term target of over 30,000 barrels of oil per day from the Opuama field is very achievable, especially as the Opuama-10 infill well will be drilled shortly after the completion of Opuama-9. We look forward to confirming the results of the E2000 appraisal and initial production rates from Opuama-9 in due course"

For more information about related Opportunities and Key Players visit West Africa Projects

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