OPHIR ENERGY MAKES ANOTHER LARGE GAS DISCOVERY OFFSHORE TANZANIA

Ophir Energy PLC has reported successful results from its Taachui-1 and subsequent Taachui-1 ST1 well in Block 1, Tanzania. The well is estimated to contain 1 trillion cubic feet of recoverable gas.

“The Taachui-1 discovery continues the 100 percent drilling success rate on Blocks 1, 3 and 4 and adds further resource to support the LNG development in Tanzania,” said Chief Executive Nick Cooper.

He said that 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.

The Taachui-1 well was drilled down to 4,215 meters and found gas in a 289 meter single column. It had 155 meters of net pay.

According to Ophir, the discovery could extend into second compartment, to the west, and that could be of a similar size. An appraisal well would be required to test this theory.

Drill-stem testing of Taachui-1 will now take place, and the results are anticipated before the end of the month.

The London listed oil and gas firm has a 20% interest in the Block 1, which is one of three blocks that host several gas discoveries which comprise a major LNG development project.