Ophir: Jodari Resource Estimates Increase (Tanzania)

Ophir Energy, a UK-based company, focused on oil and gas exploration in Africa, today announced an updated reserves estimate for Jodari field, offshore Tanzania.

Following the successful completion of the multi-well Jodari appraisal programme and Drill Stem Test (DST), Ophir management has increased the original 3.4 TCF mean recoverable resource estimate of the Jodari Field by 700 BCF to 4.1 TCF. Company management now estimate the total 2C mean recoverable resource estimate for Tanzania Blocks 1-3-4 at 12.6 TCF.

The Deepsea Metro I drillship, used for Jodari drilling, is now preparing a Drill Stem Test for the Cretaceous Mzia discovery, with results due in late April. Ophir management estimates that a flow test rate of 10-20 mmscf/d would be commercial for development of this asset.

Nick Cooper, CEO of Ophir Energy said: “We are pleased that appraisal and DST data from Jodari-1 has increased confidence in the world-class reservoir and led to a 22% increase in this anchor asset for Tanzania’s first LNG project. After the completion of the Mzia-2 DST, we will then move to delineate the resources in Block 4 by drilling the Ngisi-1 well. This is designed to establish sufficient resources to underpin a single LNG train in the northern area of Blocks 1-3-4. Meanwhile, Ophir and our partner BG Group will continue to interpret the outboard prospectivity of Block 1. We remain excited by this area. With final data only recently received, however, the JV needs more time to refine the outboard drilling sequence and plans to re-commence exploration in Block 1 in Q3 2013.”

BG Group as operator has a 60% interest in Blocks 1, 3 and 4 offshore Tanzania, with Ophir Energy holding 40%.

April 10, 2013

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