Maurel & Prom: Success With the OMOC-N-301 Well in Gabon

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Maurel & Prom

Sep 16, 2010, 12:59 ET

    PARIS, September 16, 2010 /PRNewswire-FirstCall/ --
    - Success With the OMOC-N-301 Well in Gabon: Flow Rate of 1,600 boepd
    - New Extension of the Onal Field in the Southeast
    Gabon: AEE ONAL (operator, 85%)

Maurel & Prom is able to confirm the success of the OMOC-N-301 delineation well in the Southeast of the Onal field. Drilling has reached a depth of 1,041 m, encountering saturated hydrocarbon intervalles in the Gres de base formation, with 44 m perforated.

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

The oil samples collected show a 33degrees oil, with characteristics that are expected to be similar to those produced on the Omko, Omgw and Omoc-N fields and therefore potentially with less of a paraffin base than the oil produced on the Onal field, with no evacuation problems experienced to date.

This well has demonstrated the presence of a new compartment in the Gres de base, proving a Southeast extension of the Onal field, opening up new possibilities.

A second well (OMOC-N-302) is going to be drilled as a deviation from the same platform over the next few weeks in order to determine the scale of this extension.

For more information, visit 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

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SOURCE Maurel & Prom

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