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Savannah Makes The Fourth Oil Discovery in A Row

Savannah Petroleum has announced the fourth consecutive crude oil discovery in the Agadem Rift Basin (ARB) in the Republic of Niger.

 

The Eridal-1 well is the latest reported successful probe in the British operator’s four well campaign, which started with Bushiya-1 and continued with Amdigh-1 and Kunama-1.

 

None of the wells have been tested, so their deliverability is not entirely clear.

 

“Production tests are expected to be performed on at least two of the four wells as a precursor to the Company’s plans to implement our Niger Early Production Scheme (“EPS”)”, the company has explained.

 

All the wells were drilled in the R3 portion of the R3/R4 PSC Area in the ARB, South East Niger.

 

Preliminary results of Eridal-1, based on the interpretation of the available data set (which includes wireline logs, fluid sampling and pressure data) indicate that the well has encountered a total estimated 13.6m of net oil bearing reservoir sandstones in the E1 reservoir unit within the primary Eocene Sokor Alternances objective. Wireline logs indicate the reservoir properties to be good quality and the available data indicates light oil consistent with Savannah’s discoveries to date, and in line with offset wells and the depth/API trend observed across the basin. Oil samples from the E1 reservoir unit have been taken and returned to surface using wireline testing equipment.

 

The well was drilled by the GW 215 Rig to a total measured depth of 2,542m, and encountered the main objective targets at, or near, their prognosed depths. The well took a total of 14 days to reach target depth, and all operations are expected to be completed within 23 days of spud. This compares with a pre-drill expectation of 22 days to reach target depth and 30 – 35 days to complete all drilling operations. No significant geological or drilling hazards were encountered.

 

Eridal-1 is currently being suspended for future re-entry.

 

Testing is expected to require standard production completion equipment to be installed in the wells, enabling them to be connected to the proposed EPS. This well testing programme is currently being planned for later in the year and the Company intends to provide further details in due course. The Company does not expect to provide a discovered resource and volumes report until the well test programme has been completed and evaluated.



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