The Oki East well was drilled in 6,800 feet of water and reached a total depth of 12,600 feet below sea level. Subject to acknowledgement by the joint development authority, this fulfils the work obligation of Phase I of the exploration period contracted for JDZ block 4, which ends in March 2010.
The Oki East well was the fifth and final well drilled during an exploratory drilling campaign that began in August 2009. An analysis to evaluate the commercial potential of JDZ blocks 2, 3 and 4 is underway. The exploration team is incorporating the drilling results from all five wells into relevant geologic and fluid models to assess commerciality. ERHC has a 22% interest in JDZ block 2, 10% interest in JDZ block 3.
Peter Ntephe, chief operating officer of ERHC, said: “We have drilled five deep offshore wells in the JDZ in just four months. After more than a decade of planning and work to make drilling a reality, the focus now shifts from exploration to the highly technical process of determining the nature and extent of the hydrocarbons discovered.
“We are very excited that the drilling teams have accomplished our first phase commitment for all three blocks by drilling five wells. Our initial exploratory drilling program is now complete and we are hopeful that we will be involved in more drilling in these Blocks in the coming years.”
ERHC Energy has interests in six of the nine blocks in the offshore JDZ. The company has additional interests in the exclusive economic zone (EEZ) of the Democratic Republic of Sao Tome and Principe.
