The results of the first sidetrack are still being analyzed. The second sidetrack is expected to be completed by the end of July 2010.
The well was earlier drilled to a total depth of 9,045ft (2,757mt) offshore Gabon encountering approximately 16ft (5mt) of Gamba sandstone section which logged oil full to base.
The company said that if the Southeast Etame prospect proves to be commercial, it is expected the new field can be developed and tied back to the company’s existing floating production, storage and offloading (FPSO) facilities.
Following the completion of the appraisal of the ETSEM-1 well, Vaalco will move the drilling rig ‘Sapphire Driller’ to the Etame field to drill a new horizontal development well, Etame 7H (ET-7H).
ET-7H will be drilled in a known separate fault block in the Etame field as a replacement well for the ET-1V well. The company added that the new well has the potential to add additional production of approximately 3,000 to 4,000 gross barrels per day. Vaalco expects to complete ET-7H during the fourth quarter of this year.
The partners in the Etame Marin concession met in mid-July, 2010, and exercised the drilling rig option to drill two additional wells immediately following the current four well program. The first will be a development well in the South Tchibala field.
The second well, Omangou 1, will be a new exploration well to test both the Gamba and Dentale reservoirs. The Omangou prospect is located approximately two miles southeast of the Ebouri platform and approximately four miles to the northwest of the center of the Etame field.
The company’s subsidiary Vaalco Gabon Etame operates the Etame Marin Permit in which it holds a 28.07% net interest in the Etame Field.
