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Thursday, August 7, 2014
VAALCO Energy should see a well spud offshore Angola in the next few months. The company revealed in its Q2 results that it had contracted the Transocean Celtic Sea semi-submersible to drill a well on the Kindele prospect on Block 5.
The well, which has a post-salt objective, will be spud prior to the expiration of the current November 30 time extension. VAALCO has a second well in the works for the block by early-2016.
Also in its Q2 report, the company said the seismic data in the outboard segment of Block 5 that it and its working partner purchased is currently being processed. VAALCO expects processing to be complete in early-2015. The processing and interpretation will identify both post-salt and pre-salt opportunities.
In April 2014, the company received a letter and contractual amendment proposal from Sonangol E. P. which is expected to be signed in the near term by the government of Angola. The amendment provides for a three-year extension until December 1, 2017 along with the spudding of the previously mentioned well on the Kindale Prospect.
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