PARIS, July 7, 2010 /PRNewswire-FirstCall/ --
Production:
The level of the operated production in Gabon has been just over 16,000 barrels per day since early July 2010.
Exploration:
In Colombia, the Cascabel-1 (target 5195m) and Bachue-1 (target 2743m) wells currently have drilling underway at depths of 4667m and 1963m respectively. The results of the two wells should be known during the month of August and will be followed by tests if appropriate.
Tests are being prepared for the Sabanero-1 wells. The results of these tests will be known within two weeks.
In Tanzania, the Kianika-1 exploration well has reached a depth of 526m with a target of 3100m. The drilling results should be known from early September.
In Gabon, the OMGW-103 appraisal well reached a depth of 854m with a target of 1900m. Its aim is to appraise the North-East extension of the Gwedidi field. The results will be known within a month.
The drilling of the first well to appraise (OMOC-N-A) the discovery in the Maroc-Nord field (OMOC-N), discovered in Gabon in February 2010 should start during the course of August. This well will be followed by four other appraisal wells.
Nigeria:
The final sales validation process by SPCD/Total/Eni of 45% of the rights of OMLs 4, 38 and 41 to SEPLAT (Maurel & Prom 45%), a Nigerian registered company, should happen at the end of July 2010. The current production level shows that the production numbers estimated by Gaffney and Cline at acquisition were conservative.
For further information: http://www.maureletprom.fr
This press release may contain forward-looking statements with respect to the financial condition, results of operations, business, strategy and plans of Maurel & Prom. By their nature forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. These forward-looking statements are based on assumptions which we believe are reasonable but that could ultimately prove inaccurate and are subject to a number of risk factors, including but not limited to price fluctuations in crude oil; exchange rate fluctuations; uncertainties inherent in estimating quantities of oil reserves; actual future production rates and associated costs; operational problems; political stability; changes in laws and governmental regulations; wars and acts of terrorism or sabotage.
Maurel & Prom is listed on Euronext Paris - compartiment A -
CAC mid 100 Indice
Isin FR0000051070 / Bloomberg MAU.FP / Reuters MAUP.PA
Next Meetings
08/03/2010 1st Half Sales
08/30/2010 2010 First Half Results
Contact:
INFLUENCES
Tel : +33(0)1-42-72-46-76
E-mail : [email protected]
SOURCE Maurel & Prom
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