| Mon 25 Mar 2002, 0:00 | | Energy Africa Announces Elon 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 ELON DISCOVERY OFFSHORE EQUATORIAL GUINEA
Energy Africa today announced the G-8 well in Block G as the 6 th oil
discovery in the Rio Muni Basin offshore Equatorial Guinea. The well
encountered 48 metres of net oil pay. The discovery, named Elon, is about 24
kilometres northeast of the Ceiba Field and 6km east of the Oveng discovery.
Rhidwaan Gasant, Energy Africa's Chief Executive Officer, said, "This well
confirms the extension of excellent oil bearing reservoir into the shallow
water areas of the permit. The proximity of the Elon discovery to Oveng and
the other recent discoveries, further enhances the potential for cost
optimised, shared infrastructure in the area."
The operator of Blocks F and G in Equatorial Guinea is Amerada Hess
Corporation. A copy of their press release is attached.
25 March 2002
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
In Cape Town:
Energy Africa Ltd
Rhidwaan Gasant / 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 ELON OIL DISCOVERY OFFSHORE EQUATORIAL GUINEA
New York, New York - March 25, 2002
Amerada Hess Corporation (NYSE: AHC) reports that it has made an oil
discovery offshore Equatorial Guinea on Block G in the Rio Muni Basin. The
discovery, named Elon, was made by the G-8 well and encountered 157 feet of
net oil pay. The well was drilled to a total depth of 5,977 feet in
approximately 210 feet of water. The G-8 well is located about 15 miles
northeast of Amerada Hess' Ceiba Field and 6 miles southeast of the recently
announced Akom discovery.
"Importantly, the G-8 well has established an extension of the play fairway
into the shallower water portion of the Rio Muni Basin," said Brian Maxted,
Amerada Hess' executive in charge of West Africa operations.
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% interest in Ceiba Field
production and would have a carried 5% participating interest in any Okume,
Oveng, Ebano, Akom and Elon 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
