Business
Exploration Update
Exploration Update.
About this update from Pacsco Limited
[{"type":"text","content":"\n White Nile Limited\n07 November 2006\n\n White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas\n\n7th November 2006\n\n White Nile Ltd ('White Nile' or 'the Company')\n Exploration Update\n\nWhite Nile Ltd, the AIM listed oil and gas exploration company, is pleased to\nannounce that the first phase of its seismic operation in Block Ba, South Sudan\nhas been completed. Over 500 km of high-density, 2D seismic data has been\ninterpreted from the prospective Jonglei sub-basin of the Muglad Basin in the\nwestern part of Block Ba in South Sudan. Several prospects have been identified\nin the 1800 sq km project area, including one large structure of over 50 sq km,\nwhich has been high-graded as an immediate drilling target.\n\nThe seismic data from the first phase of the exploration programme has been\nprocessed and interpreted to provide a new understanding of the prospectivity of\nthe Jonglei sub-basin of the Muglad Basin. It clearly shows a sedimentary\nsection of up to 7 km in thickness and rift structures suitable for forming\nhydrocarbon traps analogous to the producing South Sudanese Thar Jath, Mala,\nHeglig and Unity oilfields of the Muglad Basin to the northwest of Block Ba. In\nthis way the geological conditions pertaining to the formation of oilfields in\nthe Muglad Basin (Blocks 1, 2, 4 and 5A) have been extrapolated into the Jonglei\nsub-basin in Block Ba. Blocks 1, 2 & 5A host the known Unity, Heglig and Thar\nJath oilfields that have estimated oil in place figures of circa 600 million,\n550 million and one billion barrels respectively.\n\nA drilling rig is now being procured and the first exploration well is planned\nto spud in the first half of 2007. White Nile's exploration and development\nprogramme for Block Ba includes three exploration wells in 2007 and further 2D\nseismic acquisition. Additionally 3D seismic acquisition will be considered over\nany discoveries. A new 2D seismic acquisition programme in the Pibor Post Basin,\npart of the productive Melut Basin, in the eastern part of Block Ba will also\ncommence in early 2007. The Melut Basin to the north of Block Ba includes the\nGreat Palogue oilfield, which has estimated oil in place of circa 2.9 billion\nbarrels and the Adar-Yale oilfield, which has estimated oil in place of circa\n276 million barrels. The seismic operation is being out by Te...