Wednesday, March 08, 2006

Chevron Strikes Oil At 5 Wells In West Africa

Chevron, which is rumored to be sitting on a "mammoth" find in Block 1 of the Nigeria-Sao Tome and Principe Joint Development Zone, has indeed struck oil - at five wells offshore Angola, the company told Dow Jones.
Here is the Dow Jones story:

Chevron Corp.'s (CVX) Cabinda Gulf Oil Co. subsidiary and its partners struck oil at five offshore wells in Angola's Block 0.

The San Ramon, Calif., energy company said the Sanha SN-BW06 well encountered 170 feet of net pay and flowed initially at 3,000 barrels of oil per day.

Livuite Field well 132-7X encountered 359 feet of net pay in the Pinda and flowed at 4,486 barrels per day. Well 132-8X encountered 94 feet of net pay in the Pinda.

The 70-5X exploration well encountered 296 feet of net pay in three zones in the Upper Pinda and Lower Vermelha, flowing at a combined rate of more than 2,000 barrels per day.

The 74-10X delineation well encountered 506 feet of net pay in the Lago, Mesa and Nova reservoirs.

-Jason Ma; 201-938-5400;

(END) Dow Jones Newswires

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