Tuesday, March 31, 2015

Africa Oil Corp. - AOI.t


Africa Oil Corp. - AOI.t is advancing oil and gas development in Kenya, Ethiopia and Somalia.




On March 11, 2015 the company released NEWS

Africa Oil Corp. ("Africa Oil" or the "Company") (TSX:AOI)(OMX:AOI) is pleased to provide an operational update on its exploration activities in Kenya.

The Company is continuing its extensive exploration and appraisal program in the South Lokichar Basin in Blocks 10BB and 13T, which has the objectives of proving reservoir quality and upgrading the resource estimates with the intent of submitting a Field Development Plan ("FDP") to the Government of Kenya around the end of 2015.

The SMP-5 rig recently installed production completions in the Amosing-1 and Amosing-2A wells in preparation for an Extended Well Test ("EWT") of the field and the rig has now been released. The EWT involves production and injection testing to provide dynamic flow characterization of the Amosing field stacked reservoirs. Both wells have been completed in five zones with hydraulically controlled selective completions that permit independent tests of completed intervals without well intervention. Initial clean-up testing has been completed on both wells with excellent results. The Amosing-1 well flowed at a combined maximum rate of 5,600 barrels of oil per day ("bopd") from five zones and the Amosing-2A well flowed at a combined maximum rate of 6,000 bopd from four zones, the fifth zone being in the aquifer. Both wells demonstrated high quality reservoir sands and flowed 31 to 38° API dry oil under natural flow. Pressure data during the initial clean-up flows shows connectivity between the two completed wells in the upper three zones with further production testing required to test connectivity in the lower two zones. These findings support the static pressure data which indicated connectivity between the Amosing-1, 2, 2A and 3 wells in multiple zones. The Amosing EWT forward program is to conduct longer-term flow and water injection tests, commencing mid-March with results expected in the second quarter of this year.




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