RE: 11p wow9 Aug 2018 14:46
R1/R2 - the existing producing horizon, from which it is expected that approximately 100 bopd can be added with no exploration risk, and minimal execution or technical risk;
The Mengo Sands - a well-known horizon from which we have direct proof of producible hydrocarbons from an earlier test well. This horizon should add between 400 and 500 bopd with no exploration risk but with a small amount of execution or technical risk; and
The Djeno Sands - an horizon recently brought into production in neighbouring licence areas. In those areas, oil flow rates of approximately 5,000 bopd have been achieved.  While seismic data indicate the possibility of the reservoir extending into Tilapia, this will be the first time that it has been drilled in our licence area. For this reason, we will not know whether there is producible oil at his level within our licence until it is tested, which means that this part of the drilling plan clearly carries exploration risk. However, the value that could accrue from a new discovery in the Djeno clearly makes drilling deeper a compelling opportunity.
RNS Number : 9656S