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Ophir Energy fails to find significant volumes of oil in Ayame-1X exploration well

The Ayame-1X exploration well will be plugged and abandoned as a dry hole.
offshore oil platform
The programme is due to cost US$20.5mln gross

Ophir Energy Plc (LON:OPHR) has revealed that the Ayame-1X exploration well, offshore Cote D'Ivoire, was unsuccessful.

Ayame-1X was drilled in Block 513, down to a depth of 5,394 metres and it hit the targeted turbidite channel complexes.

The well encountered the prospective reservoir intervals as prognosed, oil shows were recorded, but, significant hydrocarbons were not encountered.

Full analysis and interpretation of the data is ongoing, but the well will be plugged and abandoned as a dry hole, Ophir said.

It added that well operations are due to finish by May 22, with the programme having an estimated final cost of US$20.5mln gross (Ophir owns a 45% operated stake in the asset).


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