| Fri 20 Feb 2004, 14:51 | | ENERGY AFRICA : STATUS OF TURACO-2 WELL |
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ENERGY AFRICA LIMITED - ENERGY AFRICA : STATUS OF TURACO-2 WELL
ERNERGY AFRICA LIMITED
Registration number : 1995/007140/06
(Incorporated in the Republic of South Africa)
JSE code: ENR ISIN code: ZAE000010427
ENERGY AFRICA : STATUS OF TURACO-2 WELL
Energy Africa Limited is a South African-based oil and gas exploration and
production company, which is listed on the Johannesburg and Luxembourg Stock
Exchanges.
Energy Africa is pleased to announce that the Turaco-2 well in Uganda Block 3
(Energy Africa 50%) has reached a true vertical depth of 2949m and that logging
has been completed. Logs indicate two potential hydrocarbon-bearing zones.
Production testing is planned and the necessary equipment is being mobilised.
Rhidwaan Gasant, Managing Director of Energy Africa Ltd, said "The result of the
Turaco-2 well is encouraging, not only for Block 3 but also for Block 2 where
Energy Africa similarly holds a 50% interest and has recently completed an
extensive 2-D seismic survey".
A copy of the press release by the operator, Heritage Oil Corporation, is
attached.
Cape Town
20 February 2004
For more information about Energy Africa see: www.energyafrica.com.
Enquiries:
Energy Africa Ltd Adrian Nel +27 21 400 7602
+27 82 806 8118
"HERITAGE OIL CORPORATION ENCOUNTERS HYDROCARBON SHOWS AND EXTENDS ITS LOGGING
PROGRAM IN UGANDA
Calgary, Alberta, February 19, 2004 - Heritage Oil Corporation (TSX: HOC.A)
announced today that the initial wireline logging of its Turaco-2 well in the
Block 3 licence in Uganda has been encouraging. The well encountered shows of
hydrocarbons while drilling and the interpretation of the initial logs indicates
two potential hydrocarbon bearing zones.
Additional logging tools have been mobilised in order to extend the logging
program. Certain test equipment has previously been mobilised so as not to
unnecessarily delay the anticipated testing of the well. However, in view of
the preliminary results, additional equipment has also now been mobilised to
optimise the test program. The Company plans to commence production testing
within 45 days, subject to the constraints of shipping and operational logistics
to Uganda. A further press release will be issued on completion of the test
program.
Micael Gulbenkian, Chairman and CEO said: "We are very confident of our
continued success in Uganda and our commitment is demonstrated by the
mobilisation of further well test equipment. The logs indicate that the
reservoir sands are of good quality so that we anticipate encouraging test
results."
Heritage is the project operator and holds a 50% working interest.
Heritage is an international oil and gas corporation, with principal properties
situated in the Republic of Congo, Oman, and Uganda. Heritage"s registered
office is located in Calgary, Alberta. The Company"s Class "A" Common Shares
trade on the Toronto Stock Exchange under the symbol HOC.A.
This press release is not for distribution to United States Newswire Services or
for dissemination in the United States.
-30-
For further information please contact:
Investors Relations Contacts:
Cathy Hume, Cavalcanti Hume Funfer Inc. (CHF Inc.)
Tel +1 416 861 1079 (cathy@chfir.com)
Olav Svela, Cavalcanti Hume Funfer Inc. (CHF Inc.)
Tel +1 416 868 1079
Fax +1 416 868 6198 (olav@chfir.com)
Heritage, European Contact Details Canadian Contact Details
Micael Gulbenkian, Chairman and CEO John McLeod, Director
Tel +44 20 7351 5555 Tel +1 403 234 9974
Fax +44 20 7351 1122 Fax +1 403 261 1941
If you would prefer to receive press releases via email contact Shelley Merritt
(shelley@chfir.com)
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release -including, without limitation, statements
regarding production estimates and future plans and objectives of Heritage - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in such
statements."
Date: 20/02/2004 02:23:48 PM
Produced by the JSE SENS Department
