Murphy reports dry holes and oil strike

March 30, 2005
Murphy Oil Corp. reported two dry holes on nonanalogous structures near an earlier discovery off Congo (former Zaire) and an oil discovery off Malaysia.

By OGJ editors

HOUSTON, Mar. 29 -- Murphy Oil Corp. reported two dry holes on nonanalogous structures near an earlier discovery off Congo (formerly Zaire) and an oil discovery off Malaysia.

The dry holes, Saphir Marine-1 and Onyx Marine-1 on the Mer Profonde Sud (MPS) Block, tested prospects on the same fairway as the company's Azurite Marine-1 discovery but on different types of structure.

The Azurite Marine-1 encountered 160 ft of net oil pay with no associated water in multiple Lower Miocene reservoirs.

Murphy said it has a number of prospects to drill that appear analogous to Azurite. It plans to appraise the discovery later this year and to explore further.

Murphy operates the block, which covers more than 800,000 acres, with an 85% working interest. The Congolese national oil company, Societe Nationale Petroles du Congo, holds the remaining 15%.

Off Sarawak, Malaysia, Murphy's Rompin-1 exploration well on Block SK 311, drilled to 6,021 ft TD in 164 ft of water, encountered oil and gas in multiple horizons.

The Rompin discovery will be appraised later this year, when other nearby oil prospects are drilled. Murphy is the operator and is evaluating development options for the area.

Murphy has an 85% working interest in adjoining Blocks SK 311 and SK 309, on which West Patricia and Congkak fields produce oil. Petronas Carigali Sdn. Bhd. has a 15% interest.