Date: Monday 03 Sep 2012
Africa-focused Ophir Energy has significantly upped estimates of potential resources at one of its sites in Tanzania.
The firm said new seismic and petrophysical analysis had increased management estimates of in-place resource at its Upper Cretaceous Mzia discovery in 'Block 1' from the previously announced 2-6 trillion cubic feet (TCF) to 4-9 TCF.
It said that the mean in-place estimate was now 6 TCF and petrophysical studies continued to determine the recoverable resource potential.
"Ophir's preliminary assessment of the new 3D in the eastern portion of Block 1 has identified basin floor stratigraphy and trapping geometries that could support the trapping of hydrocarbons," added Chief Executive Nick Cooper.
"The preliminary dataset is of high quality and we are excited by the apparent prospectivity in the Tertiary basin floor fan play.
"It is early days in the interpretation but there appear to be similarities to the equivalent section of the Rovuma Delta in Mozambique," he said.
The firm said drilling was expected to re-commence in Block 1 in late September and would initially focus on step-out exploration and appraisal around its 3.4 TCF recoverable Jodari discovery to confirm the first liquid natural gas hub for development in Tanzania.
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