By OGJ editors
HOUSTON, Sept. 27 -- Pan Ocean Energy Corp. Ltd., St. Helier, Jersey, UK, confirmed a commercial light-oil discovery on its Tsiengui prospect in the Maghena permit in Gabon.
The 2 TST exploration well, north of 1 TST, was drilled to 1,816 m TD (OGJ Online, Jan. 20, 2003). Petrophysical logs and pressure analysis indicate net oil pay of 14 m in the Gamba sandstone. A gas column 31 m thick also was encountered.
Pan Ocean plans to drill and complete a horizontal section immediately to prepare the 2 TST for production. It holds 100% interest in Tsiengui field prior to a government back-in of 7.5%.
