VAALCO Energy, Inc. Confirms Oil Discovery With Etame 9P Appraisal Wellbore
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: GlobeNewswire
HOUSTON, Oct. 17, 2019 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“VAALCO” or the “Company”), today announced that the Etame 9P appraisal wellbore, targeting the subcropping Dentale reservoir beneath the VAALCO-operated Etame field offshore Gabon, was successfully drilled to a total depth of 10,260 feet and encountered both Gamba and Dentale oil sands. Operations are underway to plug back to a shallower depth and drill the Etame 9H horizontal development well section in the Gamba reservior. Key highlights: Verifies the presence of a Dentale oil column first identified in the Etame 4V well drilled in 2001Encountered approximately 35 feet of good-quality Dentale oil sands with 27% porosity and 3,000 mD of permeabilityVAALCO estimates gross recoverable oil resources of 2.5 to 10.5 million barrels of oil present in subcropping Dentale reservoirsIdentified an oil column which was thicker than expected in the Gamba reservoir which may result in higher ultimate oil
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