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Kunama Oil Discovery/Drilling Rig Option Exercised
Kunama Oil Discovery/Drilling Rig Option Exercised.
About this update from Savannah Energy Plc
[{"type":"text","content":"\n \nRNS Number : 2344U Savannah Petroleum PLC 11 July 2018 \n\n11 July 2018\nSavannah Petroleum PLC\n(\"Savannah\" or \"the Company\")\n \nKunama Oil Discovery and Exercise of Drilling Rig Option\nThird oil discovery made in Niger, drilling campaign extended\n \n \nSavannah Petroleum PLC, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, is pleased to announce the result of the Kunama-1 exploration well as an oil discovery. Kunama-1 is the third consecutive discovery Savannah has made in its maiden exploration campaign in the R3 portion of the R3/R4 PSC Area in the Agadem Rift Basin (\"ARB\"), South East Niger \n \nWell Result\n \nPreliminary results based on the interpretation of the available data set (which includes wireline logs, fluid sampling and pressure data) indicate that the well has encountered a total estimated 9m of net oil bearing reservoir sandstones in the E1 and E5 reservoir units within the primary Eocene Sokor Alternances objective. Wireline logs indicate the reservoir properties to be good quality and the available data indicates light oil equivalent to the Amdigh-1 well (the second discovery well announced by Savannah on 6 June 2018), and consistent with offset wells along trend and the depth/API trend observed across the basin. Oil samples from the E1 and E5 reservoir units have been taken and returned to surface using wireline testing equipment.\n \nDrilling Performance\n \nThe well was drilled by the GW 215 Rig to a total measured depth of 2,460m, and encountered the main objective targets at, or near, their prognosed depths. The well took a total of 14 days to reach target depth, and all operations are expected to be completed within 23 days of spud. This compares with a pre-drill expectation of 22 days to reach target depth and 30 - 35 days to complete all drilling operations. No significant geological or drilling hazards were encountered. \n \nNext Steps, Exercise of Drilling Rig Option and Eridal-1\n \nKunama-1 is currently being suspended for future re-entry. Consistent with standard industry practice in the ARB, a production test is expected to be performed on the well as part of a batch campaign using a dedicated test rig. This extended well testing programme is currently being planned fo...