Tanzania Daily News (Dar es Salaam)

5 June 2014

Tanzania: Ophir Energy Finds Gas Offshore Tanzania

Ophir Energy has announced a new gas discovery in Tanzania. The energy company reported successful results from its Taachui-1 and subsequent Taachui-1 ST1 well in Block 1, Tanzania, resulting in a new gas discovery with a net pay of 155 metres.

The upstream oil and gas exploration company said that the Taachui-1 well was drilled by the Deep sea Metro I drill ship close to the western boundary of Block 1.

While the well was sidetracked for operational reasons to complete as the Taachui-1 ST1 well, said the company, it was drilled to a total depth of 4215 metres measured depth.

The well encountered gas in a single gross column of 289 metres within the targeted Cretaceous reservoir interval. Net pay totalled 155 metres, said Ophir Energy.

Observed reservoir properties are in-line with those encountered at Mzia, the company's other Cretaceousaged discovery on Block 1. Estimates for the mean recoverable resource from the discovery are around 1.0 trillion cubic feet, "The size of the gas column is such that the discovery could extend into a second compartment to the west which has the potential to be of a similar size," said Ophir.

Looking ahead, the company said an appraisal well will be required to confirm the upside; this is currently under consideration by the JV partners. A Drill Stem Test will now be performed on the Taachui discovery with results expected before the end of June.

Ophir holds 20 percent of Blocks 1, 3 and 4 at the Taachui well. BG Group PLC operates with 60 percent. "The result is important to Ophir for two reasons: firstly it extends the proven hydrocarbon system to the eastern limit of, and partly derisks, Ophir's East Pande permit on which the Tende-1 well will be drilled later in 2014; secondly the aggregate recoverable volumes of c.16.7 TCF [trillion cubic feet] are now approaching the threshold needed to underpin a potential third LNG Train from Blocks 1, 3 and 4," said Ophir's CEO Nick Cooper.

Ophir Energy last week reported that drilling at its Affanga Deep-1 well in the Gnodo Block of offshore Gabon had not found "significant" oil indications in its target rock formations.

Drilling at the well encountered thinnerthan- expected sandstone sections with poor reservoir characteristics, Ophir said, although gas and liquid indications were encountered. Shares in Ophir last traded at 259.5 pence per share.

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