MONROVIA--African Petroleum (AP) announced Wednesday the discovery of oil at its block in Liberia.
“On 20 February 2013, African Petroleum Corporation Limited (“African Petroleum” or The “Company”) has announced a new discovery at the Bee Eater – 1 Well in Multiple Zones in Block LB – 09. The Bee Eater – 1 Well was drilled 9.5 km west of the original Narina – 1 oil discovery and was targeting the same formations,” the statement said.
“The Company confirms that it has encountered 48 metres of oil bearing Turonian sandstone, in the same sequence as the discovery in Narina – 1. However, reservoir Permeabilities over the hydrocarbon bearing section of the well are lower than Anticipated and further investigation is underway,” the statement further said.
African Petroleum recently announced the discovery of oil at its site in the West African country.
“In addition, the Company confirms that Bee Eater – 1 encountered 14 metres of Albian oil Bearing sandstone in the Darter prospect, indicating the potential of the Albian play,” it said.
“Whilst These results are encouraging and confirming Company hypothesis, more studies and More exploration drilling will be needed before reserves numbers are confirmed and development planned. The Company has also indicated that it is currently sourcing An alternative rig to the Eirik Raude, to continue its exploration activities in Liberia,”