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Thursday, July 31, 2014
Oyster Oil & Gas reported that the operator of its holdings in Madagascar, Afren plc, has awarded a contract to ALS Oil & Gas Group for a multi-well coring program on Block 1101. The contract will include the ‘twinning’ of a reported 1902 discovery, which was the last well to be drilled on the block.
The program is designed to achieve a number of objectives including the recovery of some 2,000 meters of core samples. The program is scheduled to commence in late August. Oyster holds a 10% working interest in Block 1101.
Michael Wood, president and CEO commented: “Oyster is excited about the hydrocarbon potential of Block 1101. Several exploration targets have been mapped with mean resource volumes estimated to be greater than 2.2 billion barrels recoverable (un-risked). The joint venture has been working closely together to define and develop the exploration program for Block 1101 which will include the drilling of a world-class exploration prospect in 2015; the 2014 drilling and coring work forms an integral part of the Block 1101 exploration strategy.”
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