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Eland Updates Gbetiokun Field

Monday, November 19, 2018

Eland Oil & Gas through its JV subsidiary, Elcrest Exploration and Production Nigeria, following the successful infill drilling on Opuama, reported development operations continue as planned on the Gbetiokun field.

The OES Teamwork Rig has re-entered the Gbetiokun-1 discovery well, which encountered some 15 oil bearing reservoirs, as part of the initial phase of the field development. The well is currently being completed on the E2000 and E6000 reservoirs, which have total net pay thickness of approximately 69 ft and 45 ft true vertical depth (TVD) respectively.

Following completion of operations on Gbetiokun-1, Elcrest intends to move the rig to the next well location, the Gbetiokun-3 well. This well has multiple appraisal objectives and is planned to be completed on the D9000 and E7000 reservoirs. Production testing of the Gbetiokun-1 and Gbetiokun-3 wells will be carried out after both wells have been completed, currently targeted for before the end of the year.

Initial gross production through the Gbetiokun Early Production System (EPS) is estimated to be around 15,000 bpd.

OML 40 recently surpassed the near-term gross production target of 30,000 bpd from the Opuama Field.