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Friday, October 18, 2013
CAMAC Energy and Allied Energy, the operator of Nigeria’s OML 120, saw their Oyo-7 well exceed pre-drill expectations according to preliminary results. Oyo-7 commenced drilling operations on September 9 and based on logging while drilling data, the well encountered gross oil pay of 133 ft and gross gas pay of 103 ft in the gas cap from the currently producing Pliocene reservoir, with excellent reservoir quality.
CAMAC reported that the top of the reservoir was penetrated at 5,564 ft and the well is currently drilling to the planned total depth of 8,038 ft and is expected to penetrate the deep Miocene secondary objective.
“We are highly encouraged by these preliminary net pay results in the Pliocene reservoir, which is the primary objective of the well,” said Dr. Kase Lawal, chairman and CEO of CAMAC Energy. “Not only have we confirmed net oil pay results that exceed our internal expectations, but a smaller than expected gas column was also penetrated. As a result, we expect improved oil production from the horizontal section. I am proud of the technical teams at both Allied Energy and CAMAC Energy for our successful drilling operations, and look forward to updating shareholders as we complete drilling and evaluation of the deep Miocene reservoir.”
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