Victoria Oil & Gas Plc, the oil and gas exploration and development company with assets in Cameroon and the FSU, is pleased to announce an update on the passive seismic spectroscopy survey at its Logbaba gas and condensate project ("Logbaba") in Douala, Cameroon.
The survey findings are in line with the geological understanding of the Logbaba reservoir sands and correlate well with data from the four old wells and the newly drilled well La-105.
The analysis of the survey indicates a major potential hydrocarbon accumulation around two kilometres from the current drilling location. The accumulation, which lies entirely within VOG's licence block, appears to be substantially larger than the existing discovery and has not been seen in any previous subsurface studies due to the lack of geophysical data.
The survey also suggests that the most prospective area at the existing discovery lies around 300 metres from Well La-104, between that well and La-101. The well design team are considering this data and its impact on the design of the next well, La106, which is due to be spudded on 6 February 2010.
The data is the first new geophysical information to be acquired over Logbaba since the discovery was made in the 1950s.
VOG Chairman Kevin Foo said, "The data from the passive seismic is very significant for VOG and Logbaba. The results suggest that a large and unexplored accumulation lies just a few kilometres away from the original discovery.
This would be a considerable addition to our reserve base if it is ultimately confirmed by drilling. The passive seismic data correlates well with the subsurface data we obtained from all previous wells and our recently-completed Well La-105."
