Madagascar

By OGJ editors
HOUSTON, July 13 – Ophir Energy PLC will acquire from Wilton Petroleum Ltd. an 80% interest and operatorship of Marovoay Block 2102 in the Majunga basin onshore northwestern Madagascar.

The block, covering more than 12,000 sq km onshore from two offshore blocks held by ExxonMobil Corp., was awarded to Wilton following a competitive license round in 2006.

Ophir Energy said, “Wilton has undertaken an initial prospectivity assessment of the block that has included reprocessing of legacy seismic data, extensive field studies and sample analysis. A revised geological model has been developed following this work which has potentially significant implications for the prospectivity of the basin.”

Ophir Energy plans to test the geological concepts by collecting 3,600 sq km of high-resolution gravity gradiometry and aeromagnetic data under a contract with UK potential field specialists ARKeX Ltd.

Ophir Energy will fund the new surveys, reimburse Wilton certain back costs, and, if it elects to drill, carry Wilton through the first two exploration wells subject to a financial cap on the extent of the carry.