| Thu 29 Nov 2001, 0:00 | | Energy Africa Limited Announces Okume Appraisal Re |
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Energy Africa Limited
Registration number: 1995/007140/06
(Incorporated in the Republic of South Africa)
ENERGY AFRICA LIMITED ANNOUNCES OKUME APPRAISAL RESULTS
Energy Africa is pleased to announce positive results from an appraisal
programme on the Okume discovery in Block G offshore Equatorial Guinea.
Both the Okume-2 and Okume-3 wells intersected significant oil bearing
reservoir sections. Possible development options for the Okume accumulation
are being evaluated. Energy Africa holds a 15% interest in Block G. An
appraisal well has commenced on the Oveng discovery some 5km to the east of
Okume.
Rhidwaan Gasant, Managing Director of Energy Africa notes that "the Okume
appraisal is an important milestone for Energy Africa confirming that
Equatorial Guinea is now the most important area in our portfolio. Early
next year we will commence a programme of exploration wells in Blocks G and
F, which has the potential to add significantly to the value of the
company."
The operator of the Blocks F & G exploration licences is Amerada Hess based
in New York USA. A copy of their press release is appended.
29 November 2001
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
In Cape Town:
Energy Africa Ltd
Adrian Nel
+27 21 400 7600
Corporate Image
Tamra Veley
+27 21 426 1233
In London:
College Hill
Nicholas Williams
+44 7767 242 566
AMERADA HESS CONFIRMS OKUME DISCOVERY OFFSHORE
EQUATORIAL GUINEA WITH OKUME-2 AND OKUME-3 APPRAISAL WELLS
New York, New York, November 29, 2001
Amerada Hess Corporation (NYSE: AHC) has successfully completed the initial
appraisal of its Okume oil prospect, confirming a significant discovery
offshore Equatorial Guinea. Two wells, Okume-2 and Okume-3, have been
drilled and sidetracked. The wells encountered 153 feet and 137 feet of net
pay, respectively. Good-quality reservoirs were penetrated. The two wells
followed the Okume-1 oil discovery announced in June that had 200 feet of
net pay.
The Okume-2 well, located 1.3 miles west-southwest of the Okume-1 discovery
on Block G in the Gulf of Guinea, was drilled to a total depth of 8,500 feet
in 1,814 feet of water. The Okume-3 well is located 1.7 miles north-
northwest of Okume-1 and was drilled to a total depth of 9,570 feet in 2,080
feet of water.
"We are extremely pleased with the success of our Okume appraisal drilling,"
said Brian Maxted, Amerada Hess' executive in charge of West Africa
operations. "Following the discovery and development of the Ceiba Field,
this is another important milestone in the development of Equatorial
Guinea's hydrocarbon industry."
Amerada Hess has now begun appraisal of its nearby Oveng oil discovery,
announced in late June 2001, with the Oveng-2 well.
The Okume Field is in Block G off the coast of Equatorial Guinea. Amerada
Hess has an 85% working interest in and is the operator of Block G and
adjacent Block F. Amerada Hess' partner in the blocks is Energy Africa Ltd.
of South Africa, which has the remaining 15% working interest. The
government of Equatorial Guinea has a carried 5% participating interest in
Ceiba Field production and would also have the same interest in any Okume
area commercial production.
About Amerada Hess Corporation
Amerada Hess, headquartered in New York, is a global integrated energy
company engaged in the exploration for and the production, purchase,
transportation and sale of crude oil and natural gas, as well as the
production and sale of refined petroleum products.
CONTACT:
AMERADA HESS CORPORATION
C.T. TURSI (212) 536-8593
