| Wed 27 Feb 2002, 0:00 | | Energy Africa Announces Akom Discovery Offshore Eq |
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Energy Africa Limited
Registration number : 1995/007140/06
(Incorporated in the Republic of South Africa)
JSE code: ENR
ISIN code: ZAE000010427
Energy Africa announces Akom discovery offshore Equatorial Guinea
Energy Africa today announced that the G-7 well in Block G in the Rio Muni
Basin offshore Equatorial Guinea, has resulted in a further oil discovery
about 19 kilometres northeast of the Ceiba Field. The discovery has been
named Akom. Appraisal drilling will be required to assess the significance
of the discovery.
Adrian Nel, Energy Africa's Chief Operating Officer, said "a fourth
consecutive discovery, Akom, in close proximity to Okume, Oveng and the
recently announced Ebano discovery is most encouraging and confirms the
potential for sharing of infrastructure in the area. Possible development
scenarios are being considered."
The operator of Blocks F and G in Equatorial Guinea is Amerada Hess
Corporation. A copy of their press release is attached.
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 20 7457 2020
Amerada Hess announces Akom oil discovery
Offshore Equatorial Guinea
New York, New York. . . . . .February 27, 2002. . . . . .Amerada Hess
Corporation (NYSE: AHC) today reported that it has made another oil
discovery offshore Equatorial Guinea on Block G in the Rio Muni Basin. The
discovery, named Akom, was made by the G-7 well and encountered 162 feet of
net oil pay. The well was drilled to a total depth of 8,140 feet in
approximately 1,456 feet of water. The G-7 well is located about 12 miles
northeast of Amerada Hess' Ceiba Field and two miles southeast of the
recently announced Ebano discovery. The well encountered reservoirs similar
in quality to those of the Ceiba Field and the Okume, Oveng and Ebano
discoveries, with comparable porosity and permeability.
Brian Maxted, Amerada Hess' executive in charge of West Africa operations,
said that "Possible development scenarios are being evaluated for the Okume,
Oveng, Ebano and Akom discoveries while exploration drilling continues. The
imminent arrival of a third drilling rig, the Sovereign Explorer, will
permit us to accelerate our drilling offshore 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 5% carried interest in Ceiba Field
production and would have a carried 5% participating interest in any Okume,
Oveng, Ebano and Akom 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 +91-212-536-8593
