Oryx Petroleum Corporation Ltd. made a new discovery off the coast of the Republic of Congo (ROC) with the drilling of its E-1 exploration well. The well was targeting the Elephant (former Xiang) prospect in the Haute Mer A license area and discovered both oil and natural gas.
The company will test the Elephant discovery in early 2014 as part of its multi-well drilling and testing program in the Haute Mer A license area where it has a 20% participating and working interest.
Commenting, Henry Legarre, Oryx Petroleum's CEO, stated: "We are very pleased with the Elephant discovery as it represents an important milestone in the building of our West African business. Overall the results are consistent with expectations. Reservoir quality, crude quality and viscosity appear to be better than originally anticipated while the real extent of the reservoir appears to be slightly smaller than expected. We look forward to working with our partners to test and potentially appraise the Elephant discovery. Although subject to testing, the discovery gives us confidence that there is further upside potential and opportunity to expand the prospect inventory in the license area".
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