New reservoir discovered at Sapele-3 well at more than 4,000 metres deep
BOWLEVEN has announced it has found further oil reserves at its Sapele-3 exploration programme off Cameroon.
It's the fourth strike in four wells drilled in the Douala Basin but this time in a deeper reservoir than the last success which was announced in October.
The Edinburgh firm, which is focused on West African exploration, said at the time initial test data had pointed to more oil in the area than previously thought.
Its latest find is a reservoir with eight metres of net pay - the portion of a reservoir containing economically recoverable hydrocarbons - in the deeper reservoirs, adding to the 11 metres of net pay discovered in October.
However, Bowleven said temperatures in what is now a 4,480 metre deep well are exceeding the rating of the available surface equipment and it will defer testing untilan optimal, longer duration test programme can be run.
Bowleven chief executive, Kevin Hart, said: "Sapele-3 has been a successful well, our fourth consecutive well in the Douala Basin to encounter significant hydrocarbon intervals at multiple levels.
"The discoveries made in the Epsilon Complex and shallower Tertiary intervals, representing a total of 19 metres of net hydrocarbon bearing pay, have at each level extended considerably the previously defined play fairway boundaries.
"The extensive data acquired during drilling operations will contribute significantly to the de-risking of appraisal locations and inform future development and exploitation planning.
"The next key step is to evaluate this well data and plan an optimal test programme for the Deep Omicron and Epsilon intervals."
Bowleven also announced today it has secured a rig for its 2012 drilling programme.
Hart added: "We are also pleased to have secured a suitable rig for the planned programme on Etinde next year, and look forward to further progress towards our dual asset objectives of converting resources to reserves and continuing to explore the potential of the Douala Basin."