| Tue 18 Jun 2002, 0:00 | | Energy Africa Announces The Abang Discovery Offsho |
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Energy Africa announces the Abang Discovery offshore Equatorial Guinea
Energy Africa Limited
Registration number : 1995/007140/06
(Incorporated in the Republic of South Africa)
JSE code: ENR ISIN code: ZAE000010427
Energy Africa announces the Abang Discovery offshore Equatorial Guinea
Energy Africa today announced that the G-10 exploration well in Block G, in
the Rio Muni Basin offshore Equatorial Guinea, is another oil discovery and
has been named Abang. The G-10 well encountered 52 metres of net pay,
comprising 48 metres of oil and 4 metres of gas. The well was drilled to a
total depth of 1840 metres in 98 metres of water. The G-10 well is located
approximately 3 kilometres from both the Oveng and the Elon discoveries, and
approximately 21 kilometres northeast of the producing Ceiba field.
Rhidwaan Gasant, Energy Africa`s Chief Executive Officer, said, "We are
delighted with the results of this well, which is the seventh discovery in
Equatorial Guinea. Abang is located in shallow water and has the potential
to further enhance the economics of a combined development with the other
discoveries 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.
18 June 2002
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 20 7457 2020
Amerada Hess Announces Abang Oil Discovery Offshore Equatorial Guinea
New York, New York. . . . . . June 18, 2002. . . . . .Amerada Hess
Corporation (NYSE: AHC) announced today that the G-10 exploration well
drilled offshore Equatorial Guinea on Block G in the Rio Muni Basin has made
a significant new oil discovery named Abang. The G-10 well encountered 170
feet of net pay, 157 feet of oil and 13 feet of gas, and was drilled to a
total depth of 6,027 feet in approximately 323 feet of water. The discovery
well is located about 14 miles northeast of Amerada Hess` Ceiba Field, two
miles east of the Oveng discovery and 2.5 miles northwest of the Elon
discovery.
"Following the Abang Field discovery, a phased development plan covering the
Okume, Oveng, Ebano, Akom, Elon and Abang Fields in the northern part of
Block G will now be finalized and submitted to the government for approval,"
said Brian Maxted, Senior Vice President of Amerada Hess in charge of West
African 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 will have a carried 5% participating interest in any Okume,
Oveng, Ebano, Akom, Elon and Abang 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......CARL TURSI (212) 536-8593
Date: 18/06/2002 02:35:28 PM Produced by the SENS Department
