Friday, October 18, 2019
Vaalco Energy announced that the Etame 9P appraisal wellbore, targeting the subcropping Dentale reservoir beneath the VAALCO-operated Etame field offshore Gabon, was successfully drilled to a total depth of 10,260 feet and encountered both Gamba and Dentale oil sands.
Operations are underway to plug back to a shallower depth and drill the Etame 9H horizontal development well section in the Gamba reservoir.
Cary Bounds, Chief Executive Officer, commented, “We are excited that our first appraisal wellbore in the 2019/2020 drilling campaign has confirmed our estimates of meaningful recoverable resources in the subcropping Dentale, which we currently have classified as prospective. The successful Etame 9P is the first of many appraisal opportunities that we have identified that have the potential to create substantial organic value for our shareholders. The result reaffirms the upside potential yet to be exploited from the Etame field.
“We continue to assess the viability of drilling future Dentale development wells as we aim to extend the overall life of the field by continuing to add reserves and production. We are now focused on drilling the Etame 9H development well which, if successful, could result in additional production volumes coming online in December.”
Key highlights of the operation included: