Simba Essel Energy Inc SMBZF

RE:RE:AOI had another good update today

[PapaFritz]

Discovery info:
Africa Oil drills up to 20 m net pay sands in Etom-1

2014-08-28 06:13 ET - News Release

 

Mr. Keith Hill reports

AFRICA OIL OPERATIONAL UPDATE AND CONFERENCE CALL

Africa Oil Corp. has provided an update on its operations in Kenya and Ethiopia.

The Etom-1 well in the Lokichar basin on block 13T (Kenya) has reached a total depth of 2,000 metres and has discovered oil in the primary Auwerwer and Upper Lokhone target formations.
The well encountered a range of between five and 20 metres of potential net pay sands based on wireline logging and drilling data.
Oil has been recovered in MDT sample chambers which appears to be of similar quality to the oil found in the discoveries to the south. An additional 400 metres of porous sands in the Auwerwer and Lokhone formations also confirm the extension of thick reservoir sections into the northern portion of the basin.
Oil and gas shows were noted throughout during drilling of the well confirming the extension of the petroleum system to the northern portion of the basin. Based on these positive drilling results, the partnership has agreed to extend the current 3-D seismic survey over the northern portion of the basin where several additional large prospects have been identified by 2-D seismic. The well has been suspended for potential future drill stem testing. Africa Oil holds a 50-per-cent working interest in this block, which is operated by Tullow Oil PLC which holds the remaining 50-per-cent interest.