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News Breaks
November 8, 2012
16:33 EDTEGYVAALCO Energy announces N'Gongui 2 well is being drilled in Mutamba Iroru
VAALCO Energy announced that the N'Gongui 2 exploration well being drilled onshore Gabon in the Mutamba Iroru concession has encountered hydrocarbons in the objective Gamba sandstone section. Company commented: "With our partner, Total Gabon, we have elected to drill this well as a "tight hole" and therefore specifics of the operation will not be released until a later date. Suffice to say that VAALCO is excited about the results as the reservoir encountered is the same oil bearing sandstone that produces so prolifically from our offshore fields in Gabon. We are presently conducting additional operations to ascertain the size of the reservoir, reserves and plan of development." The discovery is located approximately six miles south of the producing Atora field operated by Total Gabon, and future development plans will investigate connecting into the field's export pipeline.
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