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Wednesday, December 17, 2014
Oyster Oil and Gas saw drilling and coring operations completed on Block 1101 onshore Madagascar where it holds a 10% stake and Afren is the operator. A total of four strategic locations on the block were successfully drilled and cored to an aggregate depth of 2,000 meters with approximately 1,760 meters of core samples recovered.
Drilling at each of the locations successfully completed its respective technical objectives to assess specific aspects of the block’s petroleum systems.
Two of the core holes were drilled to depths of 650 meter and 500 meter adjacent to the 1902 coal borehole (Ankaramy-1) which had reportedly encountered hydrocarbon shows. Cores recovered from both locations indicate the presence of hydrocarbons and potentially good reservoir quality over multiple zones.
Early indications provide further evidence of at least three different source rocks working across the Block, in Triassic, Jurassic and Cretaceous zones. Further detailed laboratory analysis of the cores will be undertaken during Q1 2015 to confirm the nature and extent of the hydrocarbons.
Michael Wood, President and CEO commented. “These are encouraging results indicating the presence of hydrocarbons over several zones, reaffirming the oil potential of Block 1101. The joint venture has been working closely together to define and develop the exploration program for Block 1101, and we are looking forward to working with Afren on the drilling of a large exploration prospect which is planned for 2015.”
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