Thursday, June 09, 2011
BowLeven plc
Bowleven announced the results of testing activities at the Sapele-1ST appraisal well drilling in the Douala Basin, offshore Cameroon. Drill stem testing was performed within the Deep Omicron interval at Sapele-1ST and a light oil flowed on test.
Highlights
- Stabilized flow rate of 3,101 boepd produced on test at Sapele-1ST
- High quality light oil (39.2 degree API) produced on test; oil quality and gas-oil ratio comparable to that encountered at the original Sapele-1 well
- Testing program underway at Sapele-2
Sapele-1ST update
The principal objective of Sapele-1ST was to appraise the Deep Omicron oil discovery encountered in the Sapele-1 exploration well.
As previously announced, the Sapele-1ST well encountered log evaluated net pay conservatively estimated to be approximately 10 meters within the Deep Omicron interval, based on conventional wireline logs. The well was drilled to a TVD of 3,634 meters (4,483 meters measured depth) in water depths of around 25 meters approximately 2 kilometers south east of the Deep Omicron oil discovery in the original Sapele-1 vertical well.
Drill stem testing at Sapele-1ST was conducted over a 71 meter perforated interval. The interval flowed at a stabilized rate of 2,023 bopd of 39.2 degree API oil and approximately 6.47 mmscfd of associated gas on a 56/64 inch choke.
The interval tested at Sapele-1ST correlates on seismic with the equivalent Deep Omicron interval drilled by the original Sapele-1 well, where better developed sands were encountered. The Sapele-1 well had a confirmed oil pressure gradient at Deep Omicron and oil samples were obtained during logging activities. The oil quality, gas-oil ratio and pressures measured on test at Sapele-1ST are comparable to the samples and pressures taken at Sapele-1.
Forward plan
Due to the stratigraphic nature of the Omicron discoveries further analysis and appraisal is required to delineate the fields and to assess the implications for resource estimates and potential development options for these discoveries. The productivity demonstrated by the Deep Omicron test at Sapele-1ST is a key step forward. In addition, a testing program is ongoing at Sapele-2, drilled to appraise both the Lower and Deep Omicron discoveries, and the results from this will be integral to this process.
As planned the Noble Tommy Craighead rig is being released after Sapele-1ST testing for a mandatory recertification process.
An update announcement and conference call are planned on completion of the full test program at Sapele-2, which is expected in around two to three weeks. Further announcements on drilling activities will be made as appropriate.
Kevin Hart, Chief Executive of Bowleven plc, commented, "Bowleven is delighted to announce its first oil flow test in the Douala Basin, offshore Cameroon, at Sapele-1ST. The flow rates produced at Sapele-1ST are believed to be commercial. These are highly encouraging, particularly so given that better sand development was encountered in the original Sapele-1 well at the equivalent level, with good indications of comparability between the two. While further appraisal is required to fully understand the resource potential, we are encouraged by the result and the likelihood of a commercial development at Sapele given the shallow water depths. Our acreage in Cameroon shows increasing potential as we focus on our dual strategy of targeting high impact exploration potential in the Douala Basin and converting resources to reserves."
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