Indago announces that it commenced drilling the Al Jariya-1 exploration well on the Jebel Hafit prospect, in Block 31 onshore the Sultanate of Oman (Indago 100%). At 0600 hrs on 6th February 2007 the well was drilling ahead in 26” hole at a depth of 103m, having already set 30” casing.
The well, drilling to approximately 5900m, is targeting the Natih and Thamama formations which are proven producers of both gas and condensate in analogue structures such as Shams (operated by PTTEP), Saj’aa (BP) and Margham (DME). Al Jariya-1 is targeting a mean, gas and condensate reserve base of approximately 1 billion boe and is expected to take between 125 and 160 days to drill.
Additionally, as part of our strategy to create further, high impact drilling opportunities, Indago has been acquiring 2D seismic over its leads in Blocks 31 and 47 onshore Oman. Currently the Company have shot around 100 km of new seismic, with encouraging results. The programme is expected to continue until March 2007, possibly encompassing incremental leads identified in Block 43A, a new Block in our portfolio which was announced to the market in June last year.
John Hurst, Exploration Director of Indago Petroleum commented
“Jebel Hafit is a high impact exploration prospect and it has taken five years from originally identifying the potential and defining the prospect, to finally starting drilling. It is incredibly exciting to be at this point, as prospects with such large upside potential are rare.“