By OGJ editors
HOUSTON, Dec. 19 -- Verenex Energy Inc., Calgary, has an indicated discovery at its first well on Block 47 in the Ghadames basin, northwestern Libya.
The A1-47/02 well reached 10,300 ft and found indications of multiple oil-bearing sandstone reservoirs in Silurian Lower Acacus, the well's primary target. The well had shows in Acacus while drilling and on wireline logs. Production tests are planned early in the first quarter of 2007.
Drilling was to continue to 10,600 ft to test the Ordovician Memouniat formation.
The Lower Acacus, topped at 9,010 ft, 12 ft higher than prognosis, is 63 ft higher than in Shell's 1962 B1-70 well 1.2 km northwest. That well found hydrocarbons on a flank of the structure and was never produced.
Verenex operates 6,182 sq km Area 47 with 50% interest, and PT Medco Energi Internasional Tbk has the other 50%.