Buy
Sell
Share Name Share Symbol Market Type Share ISIN Share Description
Ophir Energy Plc LSE:OPHR London Ordinary Share GB00B24CT194 ORD 0.25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 57.50 57.40 57.50 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 233.9 -564.4 -86.6 - 407

Ophir Energy Plc Taachui gas discovery

04/06/2014 7:00am

UK Regulatory (RNS & others)


Ophir Energy (LSE:OPHR)
Historical Stock Chart


From Apr 2016 to Apr 2021

Click Here for more Ophir Energy Charts.

TIDMOPHR

RNS Number : 7706I

Ophir Energy Plc

04 June 2014

Ophir Energy plc

Taachui gas discovery

London, 4 June 2014: Ophir Energy plc ("Ophir" or "the Company") announces the successful results of the Taachui-1 & subsequent Taachui-1 ST1 well in Block 1, Tanzania which has resulted in a new gas discovery. Ophir holds 20% of Blocks 1, 3 and 4. BG Group operates with 60%.

The Taachui-1 well was drilled by the Deepsea Metro I drillship close to the western boundary of Block 1. The well was sidetracked for operational reasons to complete as the Taachui-1 ST1 well and was drilled to a Total Depth of 4215mMD. The well encountered gas in a single gross column of 289m within the targeted Cretaceous reservoir interval. Net pay totalled 155m. Observed reservoir properties are in-line with those encountered at Mzia, the other Cretaceous-aged discovery on Block 1. Estimates for the mean recoverable resource from the discovery are c.1.0 TCF. The size of the gas column is such that the discovery could extend into a second compartment to the west which has the potential to be of a similar size. An appraisal well will be required to confirm this upside and is under consideration by the JV partners.

A Drill Stem Test will now be performed on the Taachui discovery with results expected before the end of June.

Nick Cooper, CEO, commented:

"The Taachui-1 discovery continues the 100% drilling success rate on Blocks 1, 3 and 4 and adds further resource to support the LNG development in Tanzania. The result is important to Ophir for two reasons: firstly it extends the proven hydrocarbon system to the eastern limit of, and partly de-risks, Ophir's East Pande permit on which the Tende-1 well will be drilled later in 2014; secondly the aggregate recoverable volumes of c.16.7 TCF are now approaching the threshold needed to underpin a potential third LNG Train from Blocks 1, 3 and 4."

Ends

For Further Enquiries please contact:

Ophir Energy plc +44 (0)20 7811 2400

Nick Cooper, CEO

Richard Rose, Corporate Communications and Strategy

Brunswick Group +44 (0)20 7404 5959

Patrick Handley

Elizabeth Adams

Notes to Editors

Ophir Energy (OPHR.LN) is an upstream oil and gas exploration company which is listed on the London Stock Exchange (FTSE 250). Ophir has an extensive deepwater acreage position in West and East Africa acquired since its foundation in 2004.

The Group's headquarters are located in London (England), with operational offices in Perth (Australia), Dar es Salaam and Mtwara (Tanzania), Malabo (Equatorial Guinea), Libreville (Gabon) and Nairobi (Kenya)

For further information on Ophir, please refer to www.ophir-energy.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

DRLKMGGVRFLGDZM

1 Year Ophir Energy Chart

1 Year Ophir Energy Chart

1 Month Ophir Energy Chart

1 Month Ophir Energy Chart
ADVFN Advertorial
Your Recent History
LSE
OPHR
Ophir Ener..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210418 19:02:10