Business
Spudding of first well
Spudding of first well.
About this update from Pacsco Limited
[{"type":"text","content":"\n White Nile Limited\n20 April 2007\n\n\n White Nile Ltd / Ticker: WNL / Index: AIM / Sector: Oil & Gas\n\n\n20th April 2007\n\n White Nile Ltd\n ('White Nile' or 'the Company')\n\n Commences Drill Programme with First Well in Southern Sudan\n\n\nWhite Nile Ltd, the AIM listed oil and gas exploration company, is pleased to\nannounce the commencement of drilling operations with the spudding of the\nKedelai exploration well in Block Ba, 200 km due north of Juba, in the Jonglei\nState of Southern Sudan.\n\n\nKedelai was spudded at 13.15 hrs. local time on 19 April 2007 and is being\ndrilled to determine the hydrocarbon bearing potential of the south-eastern\nextension of the Muglad basin. The well will be drilled to a total depth of\ncirca 2,400 metres (7,850 ft.) with completion targeted for mid May.\n\n\nFollowing the interpretation of high-density 2D seismic shot in the last 12\nmonths, the Company gained a clear understanding of the prospectivity of the\nJonglei sub-basin of the Muglad Basin. A sedimentary section of up to 7 km in\nthickness and rift structures suitable for forming hydrocarbon traps were\nclearly shown, which are analogous to the producing South Sudanese Thar Jath,\nMala, Heglig and Unity oilfields of the Muglad Basin to the northwest of Block\nBa. In this way the geological conditions pertaining to the formation of\noilfields in the Muglad Basin (Blocks 1, 2, 4 and 5A) have been extrapolated\ninto the Jonglei sub-basin in Block Ba. Blocks 1, 2 and 5A host the known\nUnity, Heglig and Thar Jath oilfields that have estimated oil in place of circa\n600 million, 550 million and 1 billion barrels respectively. The interpretation\nof the seismic data also allowed White Nile to identify numerous structures of\nwhich a number were prioritised, with the Kedelai well targeting one such\nstructure.\n\n\nWhite Nile Chairman, Phil Edmonds, said, 'This is a major milestone in the\ndevelopment of White Nile. The seismic revealed a number of exciting targets one\nof which we are now drilling. In spudding this well we are entering into the\nnext phase of our development aimed at bringing Block Ba into its productive\nphase. It is not only a key moment for White Nile but it is also a milestone\nfor the people of Southern Sudan. Through the equity holding in White Nile by\nthe state owned oil company of the Government of So...