Exploration & Production | Drilling / Well Results
Sterling Strikes Dry Well Offshore Cameroon
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Sterling Energy Plc, the AIM listed exploration company, has provided the following update for the Ntem Concession, offshore Cameroon.
Bamboo-1, the first exploration well to be drilled on the Ntem Concession commenced operations on 9 February 2014 and Murphy Cameroon Ntem Oil Co. Ltd, the operator with 50% working interest, has confirmed that the well, located in 1,600 m of water, has reached a total depth of 4,747 m and evaluation operations have been conducted.
The well was designed to target a series of stacked Cretaceous aged, basin floor submarine fans, the main target being the Bamboo fan. The well encountered all pre-drill targets, however analysis of the data indicate that no commercial hydrocarbons were found and the well will now be plugged and abandoned.
The data from the Bamboo-1 well will be analysed in detail and the results used to update the assessment of the remaining prospectivity of this large deep-water block that covers some 2,319 km2. The current phase of the Ntem concession runs to April 2015, with the option to extend the exploration term by a further two years.
Sterling Cameroon Limited has a 50% non-operated working interest in the Ntem Concession. Murphy, under the terms of the farm-in agreement signed in 2011, will pay Sterling’s share of the costs for the drilling of the Bamboo-1 well.