LOTOS Petrobaltic (LOTOS Petrobaltic S.A.) (Jackup)

Significant oil discovery offshore Nigeria

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26 June 2013

Afren plc (“Afren” or the “Company”) announces that the high impact Ogo-1 well located on the OPL 310 licence offshore Nigeria has discovered a significant light oil accumulation, based on the results of drilling and wireline logs. The Ogo-1 well has been drilled to a total measured depth of 10,518 ft (10,402 ft true vertical depth subsea), and has encountered a gross hydrocarbon section of 524 ft, with 216 ft of net stacked pay. The well was targeting 78 mmboe of gross P50 prospective resources, but based on evidence to date, targeted resources are likely to be significantly in excess of previous estimates. Further evaluation using wireline log analysis is currently underway prior to extending the well to a total measured depth of 11,800 ft (11,684 ft true vertical depth subsea) to target further high potential zones. The Ogo-1 discovery, testing a four-way dip-closed structure in the Turonian, Cenomanian, and Albian sandstone reservoirs, confirms the extension of the same Cretaceous sandstones that have yielded other significant discoveries along the West African Transform Margin. Following the completion of drilling operations at Ogo-1, the Partners intend to drill a planned side-track, Ogo-1 ST, which will test a new play of stratigraphically trapped sediments that pinch-out onto the basement high targeting 124 mmboe of gross P50 prospective resources.

Source: http://www.afren.com/download.axd?id=1737

More News for Operator: LOTOS Petrobaltic S.A.

26 Feb 2014

'LOTOS Petrobaltic' jackup rig arrives in Poland

The jackup rig ‘LOTOS Petrobaltic’ today arrived in the Polish Baltic Sea having been transported from West Africa on-board the MV Target, heavy lift vessel. ‘LOTOS Petrobaltic’ is a jackup rig and was previously named the ‘GSF Monitor’ when it was owned by Transocean. The jackup was purchased by the LOTOS group from Transocean in December 2013 and began mobilisation to Poland in early 2014. LOTOS intends to use the rig to drill an initial 15 exploration wells in the Baltic Sea which will include wells in the Gotlandia licence in March 2014. If the unit is successful with its exploration efforts then LOTOS intends to purchase further offshore rigs to undertake the drilling of additional production and injection wells.

26 Feb 2014

LOTOS Petrobaltic to convert jackup rig into a fixed production unit

The LOTOS group has announced that the company intends to convert one of its jackup drilling rigs the ‘Petrobaltic’ from an offshore drilling unit into a fixed production unit. Work on the conversion of the ‘Petrobaltic’ is expected to begin in mid-2014 and upon completion in 2015, the production unit will be installed on the B8 field in Poland. The Italian contractor Rosetti Marino won the engineering, procurement and management services contract for the conversion of the ‘Petrobaltic’ in July 2013.

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