VAALCO Energy, Inc. Confirms Oil Discovery in New Step Out Area With South East Etame 4P Appraisal Wellbore
VAALCO Energy, Inc. (EGY)
US:NYSE Investor Relations:
vaalco.com/about-us/governance
Company Research
Source: GlobeNewswire
HOUSTON, Feb. 18, 2020 (GLOBE NEWSWIRE) -- VAALCO Energy, Inc. (NYSE: EGY; LSE: EGY) (VAALCO or the Company) today announced that the South East Etame 4P appraisal wellbore drilled from the VAALCO operated South East Etame North Tchibala (SEENT) platform offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation. Highlights Verified the presence of Gamba oil sands in the step out area at South East Etame;Encountered approximately 20 feet of good-quality Gamba oil sands, with similar reservoir quality as exists in the South East Etame 2H well;Drilled the South East Etame 4P appraisal wellbore to a total depth of 6,311 feet;VAALCO currently estimates gross prospective resources of 1 to 2 million barrels of oil (MMBO), or 0.3 to 0.5 MMBO net revenue interest to VAALCO, present in this newly discovered step out area;Drilling did not encounter H2S in the reservoir;Operations are underway to begin drilling the South East Etame 4H development
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