Somalia: Horn Petroleum to plug Puntland exploratory wells

Horn Petroleum Corp. will plug and abandon the Shabeel North-1 exploratory well in Somalia but will enter the next exploration period on the Nugaal and Dharoor Valley production sharing contracts.

Shabeel North-1 went to a TD of 3,945 m and encountered metamorphic basement at 3,919 m. The well penetrated 149 m of interbedded sands and shales in the Triassic Adigrat formation with no oil or gas shows and only minor porosity on logs.

The Upper Cretaceous Jesomma sands had porosity and hydrocarbon shows but produced only fresh water on a drillstem test. These sands are similar to the Jesomma sands encountered in the previously drilled Shabeel well in terms of log response and oil and gas shows, and it was determined that further tests of these zones in the previously drilled Shabeel well are not warranted. 

The next exploratory phase carries a commitment to drill one well on each block in 3 years. Horn Petroleum would shoot seismic to delineate new structural prospects on the Dharoor Valley block and hold discussions with the Puntland government to gain access regarding drill ready prospects on the Nugaal Valley block.

Horn Petroleum, 45% owned by Africa Oil Corp., Vancouver, BC, operates the Puntland exploration program with 60% working interest in the blocks. Range Resources Ltd. and Red Emperor Resources Ltd. have 20% each.

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