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Energy Africa Limited
Registration number: 1995/007140/06
(Incorporated in the Republic of South Africa)
Share code : ENR
ISIN code : ZAE000010427
ENERGY AFRICA LIMITED ANNOUNCES OVENG-2 APPRAISAL RESULTS
Energy Africa is pleased to announce that the Oveng-2 appraisal well has
confirmed the commercial potential of the Oveng accumulation, intersecting
an excellent quality reservoir section. This follows two successful
appraisal wells in the nearby Okume discovery where drillstem testing of the
Okume-2 well has been completed. The well flowed 8457 barrels per day of 34
degree API oil. A further appraisal well, Okume-4, will be commenced
shortly.
Energy Africa Managing Director, Rhidwaan Gasant, said "Energy Africa is
very pleased with the outcome of the appraisal of the Okume and Oveng
discoveries, which will add significantly to our reserve base and which
provides further evidence of the prospectivity of this area."
The operator of Blocks F and G is Amerada Hess Corporation and a copy of
their press release is appended.
19 December 2001
For more information about Energy Africa see: www.energyafrica.com
Enquiries:
In Cape Town:
Energy Africa Ltd
Adrian Nel
+27 82 806 8118
Corporate Image
Tamra Veley
+27 21 426 1233
In London:
College Hill
Nicholas Williams
+44 7767 242 566
"AMERADA HESS CONFIRMS OVENG DISCOVERY OFFSHORE EQUATORIAL GUINEA WITH OVENG-
2 APPRAISAL WELL
New York, New York, December 19, 2001
Amerada Hess Corporation (NYSE: AHC) has successfully completed the initial
appraisal of its Oveng oil prospect, confirming a significant discovery
offshore Equatorial Guinea in Block G. The Oveng-2 well encountered 344 feet
of net pay, including 199 feet of net oil pay and 145 feet of net gas pay.
The well was drilled to a total depth of 6,989 feet in 696 feet of water.
The appraisal well followed the Oveng-1 oil discovery announced in June,
which had 168 feet of net oil pay. Oveng-2 was drilled one mile southeast
of the Oveng-1 discovery. Excellent quality reservoirs were penetrated in
both wells.
"We are extremely pleased with the Oveng appraisal well, which follows the
recent confirmation of our nearby Okume discovery," said Brian Maxted,
Amerada Hess' executive in charge of West Africa operations. "The success at
Oveng is further evidence of the prospectivity of this area."
The Oveng Field is located four miles east of the Okume Field where two
successful appraisal wells were recently drilled and 12 miles northeast of
the Amerada Hess operated Ceiba Field, which commenced production in
November 2000.
Amerada Hess also announced that its Okume-2 appraisal well in Block G has
completed flow testing. The well flowed at a rate of 8,457 barrels of 34-
degree gravity oil per day from an interval of 124 feet. Appraisal of the
Okume area is continuing with the drilling of the Okume-4 well, located one-
half mile west northwest of the original discovery well.
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 would have a carried 5% participating
interest in any Okume and Oveng 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
