Maurel & Prom - Success With the OMOC-N-302 Well in Gabon

News provided by

Maurel & Prom

Nov 15, 2010, 12:19 ET

    PARIS, November 15, 2010 /PRNewswire-FirstCall/ --
    - Flow Rate of 1,600 boepd
    - Extension of the Onal Field in the Southeast Confirmed
    Gabon
    AEE ONAL (operator, 85%)

Maurel & Prom is able to confirm the success of the OMOC-N-302 delineation well in the Onal AEE. This well, with a total depth of 1,060 m, has encountered saturated hydrocarbon reserves in the Gres de base formation, with 39 m perforated.

During testing on a 32/64'' choke, an eruptive flow rate of 1,600 boepd of oil was recorded.

This is the second well drilled from this platform. The first well OMOC-N-301 (1,600 boepd during testing) had demonstrated the presence of a new compartment in the Gres de base, proving a Southeast extension of the Onal field.

The OMOC-N-302 well is the fourth appraisal well on the OMOC-North field. The predominantly Gres de base wells (OMOC-N-301 and OMOC-N-302) could be linked up to the Onal evacuation facilities in December 2010 and connected to the production centre by the end of the year, adding around 2,500 boepd to current production levels. By itself, this well will not have any consequences concerning the level of reserves forecast for the end of the year.

The predominantly Kissenda wells, with OMOC-N-101 and OMOC-N-201 already drilled, as well as the OMOC-N-103 well, with drilling underway, and the OMOC-N-501 and OMOC-N-401 wells, to be drilled by the end of February 2011, will be connected up directly to the production centre using an independent pipeline.

An exploration well (OMOC-N-601) will be drilled in early 2011 on the OMOC-N field outside of the Onal AEE. It is targeting the Gres du Kissenda.

For more information, go to http://www.maureletprom.fr

This document may contain forward-looking statements regarding the financial position, results, business, and industrial strategy of Maurel & Prom. By nature, forward-looking statements contain risks and uncertainties to the extent that they are based on events or circumstances that may or may not happen in the future. These projections are based on assumptions we believe to be reasonable, but which may prove to be incorrect and which depend on a number of risk factors such as, fluctuations in crude oil prices, changes in exchange rates, uncertainties related to the valuation of our oil reserves, actual rates of oil production and the related costs, operational problems, political stability, legislative or regulatory reforms, or even wars, terrorism or sabotage.

Maurel & Prom is listed for trading on Euronext Paris - Compartment A - CAC mid 100 Index

    Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA

    Contact:
    INFLUENCES
    +33-1-42-72-46-76
    [email protected]

SOURCE Maurel & Prom

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