Ophir Builds Up Resources in Taznania

The acquisition of assets in Tanzania starting in 2005 by Ophir Energy is making the company a leading independent in East Africa when it comes to discovered and potential resources. Over the past couple of years the company’s drilling program, partnered with BG, has allowed it to book a substantial amount of resources and its ongoing drilling program on Blocks 1, 3, and 4 is guaranteed to add to that.

Ophir, in its Capital Market Day report (CDM), said that the preliminary mapping of the new Block 1 outboard Kusini 3D seismic covering the basin floor play has identified a prospect (Lead 1C) with 22+ Tcf estimated recoverable resource. It is expected that Lead 1C will be drilled mid-2013. In the meantime drilling is underway appraising the Jodari field on Block 1. A DST is planned for January 2013.

Since last year’s CDM, the 2012 drilling program has increased Ophir's net contingent 2C resource by 444% to 1.2 billion boe, and the on-going acquisition and interpretation of nine 3D seismic programs have also increased its drilling inventory to 2.5 billion boe (net risked prospective), enabling further high impact drilling in 2013 and beyond. The company plans to drill up to 15 high-impact wells in 2013.

Besides the exciting action on blocks 1, 3, and 4 Ophir also holds Block 7 offshore Tanzania and from recent seismic mapping the company has something to be optimistic about on this block. The company said in its CDM report that initial mapping of 2D seismic data on the block has identified a prospect (Mlinzi) with potential for 20+Tcf estimated recoverable resource. The planned Upanga 3D seismic program, which is due to start any day, will further delineate the prospect. Ophir plans to target Mlinzi with its 2013 drilling campaign.