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Tuesday, March 29, 2016
SDX Energy and Dana Petroleum completed drilling operations at the Manatee-1 exploration well in Cameroon. The Manatee-1 well was spud on March 2 using the Paragon M825 jack-up rig and reached TD of 1,447 meters on March 27.
The well intersected 26 meters of gas bearing section of varying quality throughout the wellbore. According to the partners, the wellbore conditions did not allow for the acquisition of a full suite of logging tools in the deeper sections of the hole, making the analyses of these lower intervals inconclusive at this time. SDX said that additional technical work will be completed with the samples and material collected from the well to improve the understanding of their quality in a post well analyses.
The well is operated by Dana and SDX holds 35% working interest (38.89% paying interest) in the concession.
Commenting on the results, CEO Paul Welch said, “Whilst we are disappointed not to have made an oil discovery, we recognized the risks associated with exploration wells of this kind. The secondary objective was to see whether we could make a commercially viable gas discovery. At this stage it is too early to quantify the Manateee-1 gas potential and our technical team will be working closely with our partners to evaluate the well results to determine if the gas volumes on the block have commercial potential. Positively, the Block contains a further 12 prospects and leads which have been significantly de-risked by the Manatee-1 well results. We will use the information obtained from this well to improve our understanding of the Bakassi West Block so that we can sit down with our partners and the relevant authorities to discuss the next steps.”
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