Ophir's Kora-1 Well Disappoints

- Ophir's Kora-1 Well Disappoints

Wednesday, July 27, 2011
Ophir Energy plc

Ophir announced the completion of drilling operations on the Kora-1 well in the AGC Profond Production Sharing Contract (PSC). Final wireline logging is now being carried out and the well will be plugged and abandoned as an unsuccessful exploration well.

Kora-1 was a frontier exploration well drilled by the Maersk Deliverer semisubmersible in 2,600m of water and targeting a salt-cored, dip-closed anticline. The well was drilled to a total depth of 4447.5m subsea.

Formation Evaluation While Drilling (FEWD) data shows that the primary (Albian) and secondary (Coniacian and Barremian) reservoir intervals were penetrated close to their anticipated depths, but the well encountered a predominantly claystone and thinly‑bedded limestone sequence rather than the prognosed sandstone reservoir facies. In the absence of reservoir facies it is difficult to immediately assess the potential presence of hydrocarbons on the available FEWD data. A fuller analysis of the data will be required before the wider implications for the prospectivity of the Senegal-Guinea Bissau portion of the MSGBC Basin can be determined.

In June 2011, Ophir completed the last of a series of farm outs on the asset. After the farm outs, Ophir's costs on the Kora-1 well have effectively been carried by the other partners. The beneficial interests in the AGC Profond PSC and the Kora-1 well are as follows:

• Ophir (Operator) 44.2%
• Noble 30.0%
• l'Entreprise (State company) 12.0%
• FAR 8.8%
• Rocksource 5.0%

The Kora-1 well has fulfilled the work commitment for the current phase of the AGC Profond PSC.

Ophir's Managing Director, Nick Cooper commented, "The failure to find viable reservoir facies has been a disappointment at this location. However, Kora-1 was a frontier, playfinder well and represented the first exploration test of the deepwater Senegal-Guinea Bissau portion of the MSGBC Basin. As such, the well has provided important data with which to calibrate the stratigraphy of this extensive basin.

"The Joint Venture partners will now undertake a full review of the well results and their implications for the plays and significant remaining prospect inventory within the AGC Profond PSC.

"In parallel, Ophir is now preparing for an acceleration in drilling activity, with a 2011-2012 campaign of at least 11 high‑impact wells across Ophir's Tanzania, Equatorial Guinea and Gabonese acreage."

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Ophir Spuds Kora-1 Well

- Ophir Spuds Kora-1 Well

Tuesday, June 28, 2011
Rocksource ASA

Rocksource announced that drilling of the Kora-1 well has commenced on the AGC Profond PSC, offshore Senegal and Guinea Bissau.

The AGC Profond PSC covers the deepwater area (9,838 sqkm) that is jointly administered by Senegal and Guinea Bissau. The AGC Profond PSC partnership consists of Ophir Energy plc (Operator, 44.2 percent), Noble Energy (30 percent) First Australian Resources (8.8 percent), L'Entreprise AGC S.A. (12 percent) and Rocksource AGC Profond AS (5 percent).

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Ophir Welcomes New Managing Director

- Ophir Welcomes New Managing Director

Tuesday, June 07, 2011
Ophir Energy plc

Ophir announced the appointment of Dr. Nick Cooper to the Board of Ophir as Managing Director.

Dr Cooper began his career as a geophysicist with BG and Amoco in the UK and various international locations. He then spent two
years with the energy team at Booz-Allen & Hamilton, advising on upstream and gas development projects. In 1999, Dr. Cooper
completed an MBA at INSEAD and went on to join the oil and gas team at Goldman Sachs where he held the position of Vice
President. In early 2005 he co-founded and became CFO of Salamander Energy, which has grown from start-up to a FTSE250 constituent.

Ophir’s founding Managing Director, Dr. Alan Stein, will assume the role of Deputy Chairman with a focus upon business development.

Dr. Alan Stein commented, "We are delighted to have Nick join the management team at Ophir. Following on from our recent exploration
successes in Tanzania and previous exploration successes in Equatorial Guinea this is an exciting time for the Company and I am sure Nick will be instrumental in maintaining and accelerating our growth in the months ahead."

Dr. Nick Cooper commented, "I am delighted to have joined Ophir at such an exciting time for the Company with its 11 well exploration and
appraisal drilling campaign coming up over the next 18 months."

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Ophir to Take Reins of Block Offshore Tanzania

Ophir to Take Reins of Block Offshore Tanzania

Thursday, April 07, 2011

Ophir Energy plc

Ophir announced that a subsidiary has entered into agreement with Ras Al Khaimah Gas Tanzania Ltd (RAKGas) to acquire a 70% interest and Operatorship of a Production Sharing Agreement (PSA) over an area designated as the East Pande Block in Tanzania. Completion of this agreement is subject to standard Government consents.

The East Pande license lies in the coastal region of southern Tanzania covering an offshore and onshore area in excess of 7,500km2. The block lies immediately to the west of Blocks 1, 3 and 4 in which Ophir has a 40% interest. Ophir has recently drilled the first deepwater wells offshore Tanzania resulting in three significant gas discoveries. The maximum water depth in the East Pande block is approximately 2,000m. The PSA was awarded to RAKGas in 2006.

In late 2010 RAKGas acquired approximately 1,800 line kilometers of 2D seismic data in the offshore section of the block. The data indicates the continuous nature of the geology between East Pande and the prospective Ophir acreage to the east. Subject to partner and Government consent, Ophir intends to acquire a new 3D seismic survey in the offshore section of the block.

Under the terms of the farm in agreement, Ophir will fund 100% of the cost of the 3D seismic survey and will reimburse certain back-costs. In the event that Ophir elects to drill, RAKGas will be carried through the drilling of the first exploration well.

Ophir and RAKGas are also partners in the Berbera PSA in Somaliland.

Ophir's New Business Director Jonathan Taylor commented, "We are delighted to extend our partnership with RAKGas to the East Pande project and to further deepen our relationship with the Government of Tanzania. With our recent exploration discoveries in Blocks 1 and 4, immediately adjacent to East Pande, we are well placed to build on this success and undertake a fast-track exploration campaign to pursue the petroleum potential of this exciting project."

Ophir Drills Third Gas Discovery Offshore Tanzania

Ophir Drills Third Gas Discovery Offshore Tanzania

Monday, April 04, 2011
BG Group plc

BG Group announced its third Tanzanian gas discovery with the Chaza-1 well, located in Block 1 approximately 18 kilometers offshore southern Tanzania in a water depth of around 950 meters. The discovery is some 200 kilometers south of BG Group's Pweza and Chewa discoveries, previously announced.

The three successful wells so far drilled by the joint venture of BG Group (60%) and Ophir Energy plc (40% operator) form part of an initial work program planned for Blocks 1, 3 and 4 offshore Tanzania. The initial work program also includes the acquisition of a minimum of 4,000 square kilometers of 3D seismic data. BG Group has the option to assume operatorship of all three blocks upon completion of the initial work program.

To date in 2011, a 3 200 square kilometer 3D seismic survey has been acquired in Blocks 3 and 4, and a second 3D survey of 1 800 square kilometers is nearing completion in Block 1. It is intended that a second drilling campaign will commence in late 2011.

FAR Confirms Kora Drilling Agreement with Ophir

FAR Confirms Kora Drilling Agreement with Ophir

Friday, March 25, 2011
FAR

FAR announced that Detailed Agreements have now been finalized with Ophir confirming the terms of an earlier Heads of Agreement to participate in the drilling of the Kora Prospect via the acquisition of a 10 percent paying interest (8.8% beneficial interest) in the AGC Profond PSC, offshore Senegal and Guinea Bissau. Regulatory approval has been granted by the AGC Joint Authority. The agreements also allow Ophir the right to acquire a 22.5% beneficial interest in FAR's Senegal licences.

The Kora well is targeting a prospect having mean prospective oil resources of 448 million barrels (100% basis, Rocksource estimate). The well will be operated by Ophir using the semi-submersible rig Maersk Deliverer and is expected to spud around 11 April 2011 and take in the order of 24 days. The expected spud date may vary depending upon the timing of release by an existing contractor in Ghana from where the rig will mobilize to the AGC area.

The well location is 285km south west of the port of Dakar in a water depth of 2651m. The planned minimum Total Depth for the Kora well is 4,251mSS (approx. 1,600m below the mudline) although consideration will be given to drilling deeper based on the geology encountered.