Africa Oil announces Paipai-1 well temporarily suspended for future evaluation

Friday, Mar 01, 2013

Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) ("Africa Oil" or "the Company") announces the temporary suspension of the Paipai-1 exploration well in Kenya for ongoing evaluation.

The well, located in the Marsabit County of Kenya Block 10A, was drilled to a total depth of 4,255 metres and successfully logged. The well was drilled to evaluate a large structural closure of Cretaceous age in the Anza Basin.

Light hydrocarbon shows were encountered while drilling a 55 metre thick gross sandstone interval. This sandstone is overlain by a 200 metre thick Cretaceous source rock which forms an effective regional top seal and yielded oil and gas shows throughout the section while drilling. Attempts to sample reservoir fluids were unsuccessful and the hydrocarbons encountered while drilling were not recovered to surface. It was not possible to test the well at this time due to the unavailability in country of testing equipment capable of handling the higher reservoir pressures encountered at this depth. The well has consequently been temporarily suspended pending further data evaluation.

After suspension operations have been concluded at Paipai, the rig will move to the South Lokichar Basin in Block 10BB and drill the Etuko prospect in the undrilled basin flank play. The move is expected to take 3 months.

Tullow has a 50% operated interest in the Paipai-1 well, Block 10A, with Africa Oil holding 30% and Afren holding the remaining 20%.

Source: Marketwire

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