15 May 2017
Ophir Energy plc
Ayame-1X Well Result
Ophir announces that the Ayame-1X exploration well in Block 513, Cote D'Ivoire, has reached total depth of 5,394m True Vertical Depth Sub Sea. The well was targeting a number of turbidite channel complexes of Santonian and Turonian age. The prospective reservoir intervals were encountered as prognosed. Oil shows were recorded in the target reservoirs, but significant hydrocarbons were not encountered.
To date the operation has been conducted without incident, having successfully drilled and cased the longest riser-less surface section in the region and reached TD in the subsequent hole section with a single bit run (another basin first). Operations are forecast to complete by the 22nd May at an estimated final cost of $20.5 million gross.
Full analysis and interpretation of the data is ongoing, but the well will be plugged and abandoned as a dry hole. Ophir has a 45% operated interest in Block 513.
For further enquiries please contact:
Ophir Energy plc + 44 (0) 20 7811 2400
Nick Cooper, CEO
Tony Rouse, CFO
Geoff Callow, Head of IR and Corporate Communications
Brunswick (PR Adviser to Ophir) +44 (0)20 7404 5959
Ophir Energy is an independent Upstream oil and gas exploration and production company focused on Africa and Asia. It is listed on the London Stock Exchange.