ENP Newswire -
Release date- 12082014 -
The company plans to file its Form 10-Q for the quarter ended
Highlights for the quarter ended
Spudded the Oyo-8 development well offshore
Signed a Petroleum Agreement with the Government of
Currently processing the 2D seismic data that was acquired offshore
The Northern Offshore Energy Searcher drillship commenced drilling operations on the Oyo-8 development well on
The well will now be completed horizontally as a producing well in the Pliocene formation of the Central Oyo field. Further, Oyo-7, which was successfully drilled in
In addition to the development wells offshore
The ESWT block size is 1,508 square kilometres, located about 15-35 km off the coast of
Significant quantities of oil and gas have been discovered in these fields, and drill stem tests also established producibility of the reservoirs. A leading worldwide independent petroleum consulting firm has been identified to assist with the evaluation. Activities will include evaluating existing 3D seismic data, and geological and well data.
Exploration activities are continuing in the
Completed an Environmental and Social Impact Assessment Study in
Currently preparing to acquire 2D seismic on both blocks
The initial exploration period for blocks L1B and L16 expires in
Presently conducting a regional Geophysical Study
Results from the 2D interpretation will be used to outline the location for a 3D seismic acquisition
3D seismic will then be processed to interpret the geologic framework
Current efforts are being directed towards drilling one exploration well in either Block L27 or Block L28.
Frontier exploration activities are also continuing offshore
Results of Operations
For the second quarter of 2014, revenues were
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, concerning activities, events or developments that the company expects, believes or anticipates will or may occur in the future are forward-looking statements.
Although the company believes the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The company's actual results could differ materially from those anticipated in these forward-looking statements due to a variety of factors, including the company's ability to successfully drill, complete, test and produce the wells identified in this release and risks and other risk factors discussed in the company's periodic reports filed with the
All forward-looking statements are expressly qualified in their entirety by this cautionary statement. You should not place undue reliance on forward-looking statements, which speak only as of their respective dates. The company undertakes no duty to update these forward-looking statements.
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