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Africa Oil Corp To Start Spudding on Nogal Block in Puntland
Somalia
03-27-2008
Africa Oil Corp. reports that
mobilization of casing and camp construction equipment is underway in
preparation for spudding the first of an initial two well program on the Nogal
Block in Puntland, Somalia. The equipment is currently in Djibouti and is
anticipated to arrive in Somalia within the next week. The first well is
expected to spud in July, 2008.
The Company has farmed into an 80% interest in the Nogal and Dharoor blocks. The
concessions encompass two highly prospective hydrocarbon basins and cover an
area of 81,000 square kilometres or more than 20 million acres.
The two sedimentary basins were contiguous with the prolific Marib and Masila
basins in Yemen during the Jurassic and Cretaceous periods. Over 9 billion BOE
have been discovered in Yemen but exploration has been limited to date in
Somalia. Only 3 wells have been drilled in basinal settings in these concessions
before operations ceased in the early 1990’s. Those wells confirmed thick
sedimentary sequences, encountered oil in Cretaceous sandstones and proved the
presence of active petroleum systems in both basins.
In the Nogal Basin, Africa Oil has acquired all of the more than 4,000
kilometres of good quality 2D data which was recorded in the late 1980’s. This
has enabled the Company to work up an inventory of drilling prospects from which
the first two well locations will be selected.
At the Dharoor Block, the Company has finalised a contract for shooting
approximately 2,600 kilometres of 2D seismic. The seismic crew is expected to be
on the ground in Puntland by the end of April, 2008.
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