The company encountered oil during the drilling of new well, Oak-1X, in the Rio del Rey Basin, which is situated next to Niger Delta, an oil producing region in Nigeria, also called Oil Rivers.
Glencore GM Alan Johnson and National Hydrocarbons Corporation executive GM Adolphe Moudiki in a joint statement said, "The oil flowed [from Oak-1X] at extremely good rates during the sampling, indicating high quality server and good quality oil."
The company has plans to spud new wells in the region during the year 2013 and appraise and test nearby spruces.
