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Africa Oil Announces Oil Discovery at Ekales Prospect in Kenya

Africa Oil Corp. (OTC: AOIFF) is pleased to announce that the Ekales well has discovered oil in Block 13T in Kenya Petrophysical analysis of wireline logs and formation sampling indicates a potential pay zone of 60 to 100 meters which will be confirmed by flow testing. This discovery further de-risks and represents the fourth consecutive significant oil find in this basin. The well is located in Block 13T in Kenya and the Company holds a 50% working interest with operator Tullow Oil Kenya holding the remaining interest and operatorship.The Company is also pleased to update progress on four additional exploration wells in Kenya and Ethiopia.The Agete-1 well, also in Block 13T, was spud on September 16 and is currently drilling ahead. This prospect is 7 kilometers north of the Twiga discovery and along the basin bounding fault trend referred to as the string of pearls by the Company. It has a pre-drill prospective resource best estimate of 276 million barrels of recoverable oil with a chance of success of 54% (Gaffney, Cline & Associates July 31, 2013).The Bahasi-1 well in the Kenya Block 9 Bahasi prospect is

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Posted-In: Earnings News Guidance Contracts Management Global

 

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