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Verenex adds 10th find in Libya's Ghadames

By OGJ editors
HOUSTON, Jan. 13 -- Combined maximum flow from the first 10 discoveries and two appraisal wells in Area 47 in Libya's Ghadames basin totaled 99,320 b/d of oil and 92.7 MMcfd of gas, said Verenex Energy Inc., Calgary.

The tenth discovery, H1-47/02, tested oil and gas from Ordovician Memouniat and Silurian Acacus. Verenex will release results from an 11th discovery, Il-47/02, the first well drilled in the central 3D seismic survey area in northwestern Block 2, after National Oil Corp. reviews them.

The company is preparing to test the K1-47/02 new field wildcat and is drilling the L1-47/02 new field wildcat.

The tenth find, H1-47/02, gauged 1,315 b/d of 42-64° gravity oil and 16.2 MMcfd of gas on 32/64 in. to 48/64-in. chokes. Tested were 73 ft of Memouniat sandstone and two intervals totaling 82 ft of Lower Acacus sandstone. TD is 10,475 ft.

Il-47/02, which went to TD 10,925 ft, extends the Lower Acacus and Memouniat play fairways into northwestern Block 2.

Formation evaluation of Jl-47/02, in southern Block 2, indicated hydrocarbons in Lower Acacus Basal Sand 1 and Upper Shoreface intervals. It is to be tested in late January.

In Basal Sand 1, the results indicated a thick oil column of 66 ft with an underlying water-oil contact that is at a different subsea depth than the contacts found in A1 field and the F1 well, suggesting that the J1 structure may be isolated. Testing may help confirm this interpretation.

Basal Sand 1 contains the majority of the contingent resources in A1 field and in other fields in southern Block 2.

The L1-47/02 new field wildcat that was spud Jan. 2, 2009, is 5 km southeast of the A1-47/02 oil and gas discovery on a prospect identified on 2008 2D seismic.


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