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THE FOLLOWING RIGZONE NEWS ARTICLE WAS SENT TO YOU
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Baraka's Mauritania Drilling Program on Track
Baraka Petroleum Thursday, March 16, 2006
Baraka Petroleum and its partner CNPC say that plans for drilling of the
Heron-1 exploration well onshore coastal Block 20 in Mauritania are on
target for a spud date in Q3 2006.
The JV partners have confirmed the Total Depth (TD) of the Heron-1 well
has been fixed at 3800m, with primary objectives in the Cenomanian sands
and a secondary target in the Albian-Aptian sand and limestone interval.
A revised probabilistic evaluation of the Heron -1 structure prepared by
ISIS Petroleum Consultants confirms an undiscovered prospective OIIP (oil
initially in place) of 465 Million barrels (MMbbls unrisked) for both the
Cenomanian and Albian-Aptian targets with a prospective resource of
approximately 132 Million barrels (MMbbls) of which the Company's share
would be 35%.
A shallow gas target has also been identified and is a third, albeit
important, objective for evaluation in the present program. This
potentially sizable low-pressure gas prospective resource at a depth of
approximately 1000m will be evaluated, following drilling results, for
development to service local and regional power demand.
Baraka's Chief Operating Officer, Dr Satyavan Reymond said, "the
substantial progress of the Operator CNPCIM towards the spud date for
Heron-1 and the completion of the probabilistic evaluation of the
potentially hydrocarbon bearing zones gives the JV partners greater degree
of optimism leading into the first drilling in Block 20."
"This is not only a milestone for Baraka and CNPCIM, but is also a step
towards the development of the oil and gas industry onshore Mauritania
following the country's recently announced first offshore commercial
production."
The Government of Mauritania approved the B20 work program for 2006,
including the drilling of Heron-1, on February 15, 2006. This work program
was defined in the Production Sharing Contract (PSC) signed on March 22,
2005 and ratified by the Mauritanian Parliament on July 13, 2005.
http://www.rigzone.com/news/article.asp?a_id=30372
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