Uchenna Izundu
OGJ International Editor
LONDON, Sept. 23 -- Tower Resources PLC, London, is encouraged by the geophysical and well data of its Iti-1 wildcat on Uganda’s Block 5, which on reevaluation revealed significant potential to contain oil just above basement between 540-575 m.
The company plans to drill another well on the Iti structure by February 2010 following the new analysis and has rejected reentering the first one due to high costs. In June, the company originally announced the well was a duster after reaching a TD of 592 m (OGJ Online, June 16, 2009).
According to Tower Resources’ results, the Iti-1 well found 15-20 m of clean reservoir sands, but this needs to be verified by a well test. “Basin modeling by the sedimentologist has also indicated that alluvial fans could be present at the Iti-1 location and could be analogous to the basin margin edge discoveries in Block EA2,” the company said.
Detailed inspection of wireline pressure data suggests the basal reservoir could be oil bearing and is separated from overlying sediments that are clearly sealing and water bearing.
Tower Resources discovered oil traces within sample chambers and rock samples. “Analyses of these oil samples indicate that oil could be present above and within the basal reservoir although this could be consistent with residual non-producible oil in the formations,” it added.
Peter Kingston, chairman of Tower Resources, said, “The outcome of the evaluation also provides us with great encouragement for the rest of Exploration Area 5."
Contact Uchenna Izundu at [email protected].
Dreamstime | © Charles Montgomery.
Photo from SABIC Limburg BV.
