Addax reports oil discovery in Nigeria

Addax Petroleum Corp., Calgary, plans to drill a downdip appraisal well to a two-zone oil discovery in eastern OML 124 license in Imo State 105 km north of Port Harcourt, Nigeria.

Jan 28th, 2009

By OGJ editors
HOUSTON, Jan. 28 -- Addax Petroleum Corp., Calgary, plans to drill a downdip appraisal well to a two-zone oil discovery in eastern OML 124 license in Imo State 105 km north of Port Harcourt, Nigeria.

The Njaba-2 well, formerly Okaka, cut four oil-bearing reservoirs that total 289 ft of gross oil column. The two main intervals are 149 ft and 115 ft thick at 990-1,050 m and contain 20-28° gravity oil. The license has facilities for early production.

Addax, with 100% working interest in the license in which Nigerian National Petroleum Corp. is the concessionaire, continued drilling into secondary, lower sections. It plans to test the main reservoirs.

Njaba-2 is OML 124's first exploration well since the mid-1980s.

Addax produces 6,000 b/d from Ossu and Izombe fields in OML 124.

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