By OGJ editors
HOUSTON, Nov. 29 -- Syntroleum Corp., Tulsa., signed an agreement with the Nigerian oil and gas company Britania-U Nigeria Ltd. to acquire 40% interest in an oil discovery on Oil Mining Lease 90 off Nigeria.
Chevron Corp. made the discovery in 1987, 234 km south of Lagos. On test, the Ajapa 1 well flowed at a stabilized rate of 4,210 b/d of 40º gravity crude from 100 ft of net pay in 30 ft of water. The well was suspended.
Syntroleum plans an appraisal program. Subject to completion of further agreements, government approval, and rig availability, it expects to drill the first appraisal well during 2006.
Britania-U Nigeria acquired 100% ownership of the field in 2003 from the Nigerian government.
